Etrion's Italian PV portfolio hits 60 MW29. August 2011 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
Etrion Corporation has completed its 10 megawatt (MW) Helios ITA-3 solar project in Puglia, Italy, thus bringing the company's photovoltaic portfolio in the country to 60 MW.
Comprised of two five MW ground-mounted solar parks - named Brindisi and Mesagne - the systems are expected to generate 16.8 million kilowatt hours (kWh) and €5 million of EBITDA annually.
They were installed by ABB, and are comprised of polycrystalline photovoltaic modules from Yingli, which are mounted on SunPower single axis trackers with Bonfiglioli inverters.
According to a statement released, the project will receive a feed-in tariff of €0.25 per kWh, plus a market price of around €0.08 per kWh.
The financial sum invested in the project was not disclosed. However, it was said that 80 percent of the financing came from a syndicate of banks, including Natixis, WestLB and Mediocreval, in the form of a 18-year, non-recourse loan.
Marco Northland, Etrion’s CEO, commented, "We completed the Helios ITA-3 parks ahead of schedule and under budget thanks to the hard work of our superb local team, our contractors and the local utility, Enel.
"Etrion now has a fully-funded, operational solar portfolio of 60 MW in Italy with significant cash flow. We continue to review opportunities for growth in Italy and abroad."
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