The AIM-listed Italian clean energy company, Acta, has agreed terms for the sale of its 50% stake in its Solgen joint venture.
Solgen was formed in 2010 to undertake EPC photovoltaic installation contracts. The buyer is the original joint venture partner, Fedi Impianti.
The sale will raise around €150,000 and continues Acta's strategy of exiting the photovoltaic market.
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The firm says it is "advanced discussions" to dispose of its remaining contracts and instead focus on electrolysers.
The news has seen the stock rise 5% this morning although over the past 12 months the shares have fallen 91%.
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