Italy: 3Sun’s owners announce second JV as thin film factory opens08. July 2011 | Applications & Installations, Industry & Suppliers, Products | By: Becky Stuart
3Sun, Italy’s largest solar module factory, has been inaugurated in Catania, Sicily. A new joint venture (JV) by its owners has now been formed to install 500 megawatts (MW) of photovoltaic systems using the modules produced.
Back in April 3Sun - jointly owned by Enel Green Power, Sharp and STMicroelectronics - received €49.06 million of regional investment aid from the European Commission to be used in the facility's establishment.
Overall, a total of €400 million will be invested into the plant. A spokesperson for 3Sun tells pv magazine that the three partners will each invest €70 million "in cash, or in tangible and intangible assets". Project financing will also be secured from lending institutions Banca IMI, Centrobanca and Unicredit.
Initial annual thin film photovoltaic production capacity at the new factory will be 160 MW. However, the ability to ramp this up to 480 MW exists. The spokesperson adds that operations are expected to begin within the second half of this year, and that an initial 280 people have been employed. Integrated multi-junction, thin film photovoltaic cells and modules will be produced.
The manufactured modules are expected to be used for projects in Europe, the Middle East and Africa (EMEA). The spokesperson explains that they will also be marketed in Europe through subsidiaries of Enel Si and Sharp.
The three companies now say they will develop, install and operate 500 MW worth of solar projects by 2016 in EMEA. To do so, they have formed a second joint venture called ESSE (Enel Green Power & Sharp Solar Energy).
The spokesperson explains that in terms of capital for the second JV, Enel Green Power will commit 50 percent, Sharp 40 percent and Sharp Electronics Italia 10 percent.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 2892 views
- 2886 views
- 2785 views
- 2509 views
- 2448 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!