Macquarie Asset Management has agreed to sell its 40 percent stake in Hydro Dolomiti Energia (HDE) to a consortium of Equitix Euro Funds, Tages Capital SGR and La Finanziaria Trentina, together with local industrial co-investors and institutions.
HDE operates 29 hydropower plants across the Italian province of Trento, representing 1.3 gigawatts of installed capacity. HDE’s hydropower plants produce electricity to power the equivalent of approximately 1 million homes annually.
The terms of the transaction imply a valuation of approximately €1 billion ($1.1 billion) for the business. Macquarie said the deal is subject to the satisfaction of certain conditions, including a last look preemption right that may be exercised by Dolomiti Energia Group. The transaction is expected to reach financial close by fourth quarter 2024.
“Hydropower is a strategic asset, playing a key role in the energy transition and providing a clean and system-critical source of power as
