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Etrion, SunPower build four solar plants in Italy

Posted: 25 Nov 2009 ?? ?Print Version ?Bookmark and Share

Keywords:solar? Italy power plant? energy?

Etrion Corp. and SunPower Corp. have signed an agreement to build four solar power plants, totaling 4MW, in the Puglia region of southern Italy. SunPower will design and construct the plants, and provide operations and maintenance services.

Marco Northland, CEO of Etrion, commented, "Solar power generation will play an increasingly vital role in our efforts to build more renewable, clean energy sources. SunPower's experienced approach to solar power plant design and construction will allow us to quickly and reliably complete these important projects."

SunPower is installing proprietary SunPower Tracker technology at the Italian sites. The Tracker follows the sun during the day and delivers up to 25 percent more energy than fixed-tilt systems, while significantly reducing land use requirements.

Italian bank Centrobanca, is providing 83 percent of the financing for the project, while an Etrion subsidiary is contributing 17 percent of anticipated project costs.

"SunPower offers a unique value proposition to power plant developers in terms of technology and bankability. Our proprietary Trackers optimize our clients' return on investment while our solid balance sheet and rigorous contract guarantees give financial institutions confidence," said Mario Riello, sales director, SunPower Europe. "We are very pleased to partner with Etrion to deliver clean, reliable solar power to the rapidly expanding Italian market."

Construction of the first of the four projects is targeted to begin by the end of November 2009. The first electricity sales from the projects under the Italian feed-in-tariff regime are expected during Q3 10.

SunPower has more than 500MW of solar power plants installed or under contract around the world, including Italian power plants such as the 24MW Montalto di Castro plant and a 5MW plant in Tolentino. SunPower's Italian operations are located in Milan and Faenza.

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