(Alliance News) - With regard to the sale of a ground-mounted photovoltaic plant called "Parco Lemon 1," located in the municipality of Castellammare del Golfo, Lemon Sistemi Spa announced Tuesday that it has received notification of the positive outcome of due diligence activities from the buyer, Gandolfo Srl.

The value of the sale is EUR1.2 million, which will be paid to Lemon in several tranches based on the progress of the work until the plant is connected to the grid.

"The transaction is part of the strategy of direct development of medium-sized photovoltaic and agrivoltaic plants with power under 10 MW, represented by the company during the roadshow and in the admission document published for the purpose of admission to trading of the shares and warrants on Euronext Growth Milan," the company's statement reads.

Lemon Sistemi rises 9.8 percent to EUR3.15 per share.

By Chiara Bruschi, Alliance News reporter

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