DRI and Enerland have completed the first deal under their purchase agreement for the development of a 166 MWp photovoltaic (PV) portfolio, which includes four solar parks located in Italy. The transaction was supported by financial advisory boutique Capcora, which acted as the exclusive M&A advisor for Spanish developer Enerland in the sale to Amsterdam-based DRI.
Project Overview
The four solar parks, collectively known as Project Nox, are situated on the island of Sardinia and are set to commence construction in the second half of 2026. DRI was selected as the preferred bidder following a structured process conducted by Capcora, based in Frankfurt.
DRI’s Expansion Plans
As a renewables developer and operator, DRI is a subsidiary of the DTEK Group, which is the largest private investor in Ukraine’s energy sector. With the addition of the Nox projects, DRI’s Italian portfolio will surpass 522 MWp in development, advancing its goal to achieve a 2 GW target in Italy.
DRI’s Chief Executive Officer, John Stuart, commented, “Italy is one of DRI’s key markets. We see huge potential to build out our renewable energy and battery storage portfolio here and contribute to the country’s energy transition and its national and EU targets. Our acquisition of four solar projects will also allow us to combine energy production from renewable sources with agricultural activities, generating economic development for local communities and fostering energy independence.”
Partnership and Future Collaborations
In a joint statement, Enerland Group CEOs Manuel Balet and Javier Gil expressed their satisfaction with the partnership, stating, “We are delighted to have found an excellent travelling partner, a long-term investor, and hope that this will be one of many collaborations with DRI.”
Jochen Magerfleisch, Managing Partner at Capcora, added, “This transaction emphasizes the significance of cross-border collaboration and the potential for value creation in a country full of growth opportunities.”
