Bluesphere to acquire 7 Waste-to-Energy facilities in Italy

Bluesphere, a firm that manages waste-to-energy projects has announced its strategy to acquire fully operational waste-to-energy facilities in handpicked global markets. The Company has signed a Letter of Intent (LOI) to acquire seven facilities in Italy.

According to the agreement, Bluesphere will purchase up to 100 percent of the seven anaerobic digestion facilities in Italy including the seller’s rights, title and interest.

The due diligence period is up to 60 days and all the seven facilities are currently being checked under the LOI for their long term agreements with local utilities for purchasing electricity from the plants.

Based on due diligence conducted so far, the plants that are together producing high EBITDA, are expected to have an internal rate of return (IRR) of greater than 25 percent, which on acquiring will return cash for Bluesphere.

The company has implemented the intended strategy of creating near-term revenues and positive cash flows through acquisition, stated, Shlomi Palas, CEO, Bluesphere.

In addition, there are 9 more 1 MW facilities in Italy with a one year of operating history, which is being evaluated for the company portfolio, he continued.

Bluesphere had announced that it is pursuing a strategy to acquire fully operational, revenue generating waste-to-energy facilities in select global markets. The Company is enlarging its current build-own-operate model with an acquirer-own-operate strategy to create immediate revenue and cash flow.

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