Capcora advises Enerland on the sale of a solar PV portfolio with 166 MWp in Italy to DRI

Amsterdam based DRI and Spanish developer Enerland signed and closed the first deal of the purchase agreement for the development of a 166MWp solar PV portfolio, comprising of four solar parks in Italy. Frankfurt-based financial advisory boutique Capcora supported the seller as exclusive M&A advisor in this transaction.

Located on the island of Sardinia, the four solar parks, known as Project Nox, are set to begin construction in the second half of 2026.

DRI was chosen as the preferred bidder after a structured process conducted by the sell-side M&A advisor, Capcora. Headquartered in Amsterdam, DRI is a renewables developer and operator, and a subsidiary of the DTEK Group, the largest private investor in Ukraine's energy sector.

With the addition of the Nox projects, DRI’s Italian portfolio now exceeds 522 MWp in development, advancing their mission to achieve a 2 GW target in Italy.

“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. I thank Enerland for being a great partner”, said John Stuart, CEO, DRI in their company announcement.

“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”, said Manuel Balet and Javier Gil, Enerland Group CEOs.

“We are proud to have facilitated the successful sale of Enerland's projects to DRI, a reliable partner and part of Ukraine's DTEK Group. This transaction emphasizes the significance of cross-border collaboration and the potential for value creation in a country full of growth opportunities.”, adds Jochen Magerfleisch, Managing Partner at Capcora.

Legally, DRI was advised by Legance. Rödl & Partner was supporting Enerland as a legal advisor, while Capcora acted as an M&A advisor.

About Enerland
Founded in Spain in 2007, Enerland aims to be a leader in the international photovoltaic solar market, providing turnkey solutions to clients worldwide. Today, Enerland develops, constructs, operates, and maintains solar plants across diverse countries, including Spain, Italy, Portugal, Poland, Mexico, El Salvador, Colombia, Costa Rica, Tunisia, and the Philippines through its international subsidiaries.
www.enerlandgroup.com

About DRI
DRI is dedicated to accelerating the energy transition in Central, Eastern and Southern Europe. The company's mission is to work in underserved markets in Europe to achieve their net zero goals through the creation of a portfolio of 5GW of renewable energy and battery storage by 2028. DRI currently works in Croatia, Italy, Poland and Romania. It has already established a portfolio of onshore wind and solar projects, and at the end of 2023 it completed the construction of its first solar park and wind farm in Romania, which are now exporting power.
DRI is an Amsterdam-headquartered renewables developer and operator and is a subsidiary of the DTEK Group, the leader and biggest private investor in Ukraine's energy sector.
www.dri-energy.com/

About Capcora
Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.
www.capcora.com