MILAN, July 10 (Reuters) - Italian oil major Eni has pulled out of a race to buy Terra Firma’s solar power assets in Italy, a company spokesman told Reuters on Tuesday.
The British private equity firm is looking to sell its Rete Rinnovabile, known as RTR, solar portfolio in Italy in a deal that is expected to fetch more than 1 billion euros ($1.17 billion).
“We have decided not to pursue this option,” a spokesman told Reuters in an emailed statement.
Eni was working on a joint bid with Qatar Petroleum for 130 plants for a total of 330 MW of solar energy put up for sale by Terra Firma.
$1 = 0.8541 euros Reporting by Giancarlo Navach, writing by Giulia Segreti; editing by Agnieszka Flak