Beleolico (Taranto Offshore)

Renexia S.p.A. (a subsidiary of TOTO Holding Group), through its subsidiary Renexia Wind Offshore S.p.A., acquired 100% of the share capital of Beleolico S.r.l. from Belex Holding S.A., a vehicle of the Belenergia Group. Beleolico S.r.l. held the development rights, permits, and planning consents for Italy's first offshore wind farm — a 30 MW (10 × 3 MW) fixed-bottom near-shore array in front of the Port of Taranto in the Gulf of Taranto. The project had obtained a 25-year seabed concession lease via a 2016 Italian maritime authority auction. The date of the acquisition is not publicly confirmed; Renexia first proposed the project in 2008 and the acquisition appears to have been completed after the 2016 concession award and before the financial close in 2019-2020. The acquisition was for a consented, fully permitted project (all permits in place at deal time). Renexia invested approximately EUR 80 million to construct the project; the acquisition price was separate and undisclosed. The project achieved financial close (EUR 82m project financing from Natixis) in 2020 and was inaugurated in April 2022. This is the Mediterranean's first offshore wind farm.