Turnkey solar plants in Italy: acquiring a plant built by the EPC

What a turnkey solar project is

A turnkey solar plant (chiavi in mano in the Italian market) is a plant that the EPC contractor or the developer builds and hands over complete, ready for connection or already connected. The investor does not manage construction: it acquires the finished asset, usually together with the project company or the titles needed to operate it.

Turnkey solar projects for sale in Italy can be agreed at different moments. Sometimes the purchase is signed when the project is ready to build, with payment linked to completion. Sometimes the plant is already built and awaiting connection, which is what this site calls brownfield.

What the investor buys

A turnkey acquisition typically includes:

• the built plant: modules, structures, inverters, cabling, user substation or cabin;
• the authorisation title and any prescriptions to be fulfilled;
• the grid connection under the accepted STMG, with network works completed or in progress;
• the land rights, in surface right (DDS) or ownership;
• the as-built documentation, test reports and component warranties;
• often, an O&M agreement for the first years of operation.

The exact scope depends on the contract. The data room, available after the NDA, is where each element is verified.

EPC warranties and contractual protections

The value of a turnkey plant depends heavily on the solidity of the EPC contract and of the warranties transferred to the buyer. Investors and their advisors usually look at:

• Performance warranties: how plant performance is measured at acceptance and what happens if it falls short.
• Defects liability: the period during which the EPC remedies defects and how claims are handled.
• Component warranties: manufacturer warranties on modules and inverters, and whether they are transferable.
• Security packages: bonds or other forms of security issued by the EPC, where provided.
• Delay provisions: what happens if completion or connection takes longer than planned.

Pipeline.Solar does not assess these aspects on your behalf: due diligence is yours and your advisors'.

Testing and acceptance

Before handover, a turnkey plant goes through mechanical completion, functional tests and, once connected, performance tests. Acceptance is usually split into provisional and final steps. The connection itself depends on the network operator, so the contract should clarify who bears the risk of the time between mechanical completion and energisation. This point is especially relevant for plants bought at the brownfield stage.

Investors often appoint an independent technical advisor to follow testing and to review the reports issued by the EPC. Typical documents include the as-built drawings, the test protocols, the commissioning reports, the grid operating regulation and the documentation required by the network operator for energisation. Their availability and consistency are checked in the data room. Our solar due diligence guide lists the main areas.

Solar EPC turnkey acquisition: who it suits

Turnkey acquisitions suit investors who want exposure to new plants without building an internal construction team: infrastructure funds, insurance and pension investors, family offices and industrial companies looking for assets linked to their consumption. IPPs with construction capability may still prefer to buy at RTB and manage the build themselves, keeping control over the choice of EPC and components.

Turnkey, RTB and brownfield: how they relate

On Pipeline.Solar the four stages are greenfield, RTB, brownfield and COD. Turnkey is not a separate stage but a way of acquiring the asset:

• RTB with turnkey delivery: you agree the purchase on an authorised project and the seller delivers it built.
• Brownfield: the plant is already built or in its final phase, awaiting connection.
• COD: the plant is already producing, with a history. See operating solar plants for sale.

When you set your criteria, select the stages that match the moment at which you want to enter.

How to receive turnkey opportunities

Contact us on WhatsApp or fill in the investor access form. After an introductory call you receive a personal link to the reserved area, where you set stages, capacity range of the single plant, regions, technologies and structures. If you are specifically interested in turnkey delivery, say so during the call. When a compatible plant enters the pipeline, the staff sends you a teaser. Opportunities depend on the projects available at the time.

Set your criteria.