JUWI has sold a 50.5-MW solar portfolio to Kelag in Italy.

The Italian branch of German project developer JUWI GmbH Group has sold a 50.5-MW portfolio of solar projects that are ready for construction in Italy to a subsidiary of the Austrian energy company Kelag.

The package sold to Kelag Italia Srl includes eight permitted projects situated in Northern Italy, as stated by JUWI on Thursday. Financial specifics of the deal and detailed information about the photovoltaic (PV) projects have not been disclosed.

"This transaction highlights our dedication to delivering high-quality projects and reinforces our position as a leading renewable energy developer and EPC and O&M service provider in the Italian renewable energy market," said Elvira Foti, managing director of JUWI in Italy. She also mentioned that the projects are anticipated to "add significant value to Kelag."

For Kelag, this acquisition aligns with its strategy to expand into the wind, solar PV, and hydropower sectors. Last year, the Austrian company committed to investing EUR 3.8 billion (USD 4.29 billion) through 2034 to transform the energy system, with a focus on enhancing regionally available renewable energy sources.