First Reserve Completes Gamesa Solar Acquisition

Private equity firm First Reserve Corp. has completed its acquisition of Spain-based Gamesa Solar, which – together with the recent acquisition of Italy-based Ener3 – positions First Reserve to deliver up to 400 MW of solar capacity in southern Europe over the next four years.

First Reserve expects that two-thirds of this capacity will be delivered to customers on a turnkey project basis, while the remaining capacity will be developed on its own account.

Paolo Pietrogrande, previously CEO of Enel GreenPower, chairman of Atmos Holding and director of Trinergy PLC, will become CEO of the new group. Antonio Cavalle will become managing director.

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