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17 Dec 2025

WFW and Gianni & Origoni advised on sale of Italy’s largest photovoltaic portfolio

"Watson Farley & Williams advised buyer Encavis and Gianni & Origoni advised seller EDPR on the acquisition of a five-plant operational photovoltaic portfolio in Lazio and Puglia totalling about 248 MW, with a further 17 MW planned in Lazio. The plants are backed by PPAs or incentive mechanisms to secure revenue stability."

Watson Farley & Williams and Gianni & Origoni provided legal assistance to the buyer Encavis and the seller EDPR (EDP Renováveis), respectively, in the sale and purchase of a major photovoltaic portfolio in Italy. The transaction involved the acquisition by Encavis of a portfolio composed of five large operational photovoltaic plants located in the Lazio and Puglia regions, with an aggregate capacity of approximately 248 MW. The deal also foresees the installation of an additional 17 MW in Lazio. The portfolio is supported by power purchase agreements (PPAs) or incentive mechanisms designed to ensure revenue stability. Encavis is a German renewable energy operator active in the European market and is partly owned by KKR; EDPR is the renewables arm of the EDP group, headquartered in Madrid. Gianni & Origoni represented EDPR with a team composed by: Ottaviano Sanseverino (Head of the Energy and Infrastructure department); partners Raffaele Tronci (energy/M&A) and Elisabetta Gardini (regulatory); associate Emiddio Mainente (support on energy/M&A); and associates Andrea Terraneo, Leonardo Scuto, Franco Maria Zeppieri and Teresa Soprano (support on due diligence profiles). Watson Farley & Williams represented Encavis with a team composed by: Eugenio Tranchino (Managing Partner, WFW Italy); partner Luca Sfrecola and associate Sonia Basso; senior associate Giovanni Benedetto and associate Alice Zago; and trainee Ying Hong Wang (corporate matters, including negotiation and drafting of transaction documentation). Partner Tiziana Manenti, supported by senior associates Anthony Bellacci and Antimo Rocco Nersita and associate Marco Iannotti, handled regulatory, administrative law matters and the legal due diligence process. Counsel Alfredo Guacci Esposito provided tax advice. Encavis in-house legal team represented Encavis with a team composed by: Constantin Lentz (legal in‑house lead).
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