Colexon Energy has sold three Italian solar power plants to an Irish investment company for approximately EUR11.5m.

Colexon Italia, a subsidiary of Colexon Energy, developed and built the solar power parks on a turnkey basis.

The company installed 13,000 crystalline modules on an area of more than 20,000 square meters.

The solar projects, which include Leo (998kW), Corvo (997kW) and Valle (997kW), will have an annual peak output of more than 3.8 million kWh of electricity and are expected to save about 3,800 tons of CO2 per year compared to the emissions of a coal-fired power plant.

Colexon Energy is a project developer and operator of large-scale solar photovoltaic systems.