Italian-Chinese talks over 32 MW PV park in Greece

20. March 2013 | Applications & Installations, Industry & Suppliers | By:  Ilias Tsagas

Italy-based Energy Resources Ltd announced it has signed a €50 million contract to build a 32 MW photovoltaic park in Greece.

Greece flag

The photovoltaic project should be completed by the end of the year.

According to a statement released, the company is in talks with the China Development Bank to fund the project. Many foreign banks and other investors are also said to be interested, however.

The project is scheduled for completion by the end of 2013 and Energy Resources will seek co-operation with local Greek PV companies.

The Italian-Chinese deal indicates that despite the FIT cuts introduced last August, Greece continues to attract foreign investment in photovoltaic projects.

Emanuele Mainardi, Energy Resources' head of overseas development, congratulated Greece for investing in renewable energy systems to boost its economy at a time of strong economic crisis. The same, Mainardi said, doesn't happen in Italy where the political, economic and financial systems do not grasp the strategic importance of the RES sector.

Energy Resources Ltd is in the process of signing a further 40 MW of new PV and wind energy contracts in Europe, which together with the PV park in Greece will allow the company to reach a turnover of over €80 million.

The company failed to respond to questions posed by pv magazine.

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