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Italy's Alerion Clean Power drops plans to find industrial partner for now

·1-min read

MILAN (Reuters) - Italy's Alerion Clean Power dropped its plans to find an industrial or financial partner for the time being, with the renewable energy firm saying on Tuesday it was able to carry out the investments planned for the next few years on its own.

The company, which announced last year it would look for a partner to support its growth, said that higher energy prices and an improved outlook for the development of the renewable energy sector would create the conditions to clinch its investment targets independently.

This was despite "some expressions of interest from leading international investors," it added in a statement.

Italy's biggest regional utility A2A had flagged in February its interest in acquiring a majority stake in Alerion.

Alerion also raised its 2022 core profit guidance to about 260 million euros ($279 million) from the previous 236 million, citing the start-up of new wind and photovoltaic plants, among other factors. ($1 = 0.9321 euros)

(Reporting by Federico Maccioni, editing by Keith Weir)

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