S.A.G. grid connects 48 MW PV project

01. September 2011 | Applications & Installations, Industry & Suppliers | By:  Becky Stuart

S.A.G. Solarstrom AG has connected its 48 megawatt peak (MWp) North Italian photovoltaic project to the grid yesterday, thus meeting Italy’s August 31 feed-in tariff (FIT) deadline.

S.A.G. Solarstrom CEO Karl Kuhlmann

CEO Karl Kuhlmann: "We sped up the project because of the changed legal situation in Italy." Image: S.A.G. Solarstrom.

Expected to generate 64 million kilowatt hours of energy annually, it is the largest project to be completed by the German solar company. Spread across 150 hectares in the Venice region, the plant is comprised of over 200,000 photovoltaic modules.

Commenting, CEO Karl Kuhlmann said that the company increased the pace of construction in order to meet Italy’s new Conto Energia FIT deadline.

"We sped up the project because of the changed legal situation in Italy. It was originally scheduled for completion at the end of 2011," he explained. Consequently, the project will receive a tariff of 25.6 euro cents per kilowatt hour.

Under Italy’s new solar incentive rules, ground-mounted systems larger than 200 kilowatts peak have to be registered with the GSE in order to receive the FIT from September 1. There is also a 1.2 gigawatt cap on this segment, which came into play in the second half of 2011. However, plants which were grid connected by August 31 are directly entitled to the FIT.

Meanwhile, in a statement, S.A.G. says it  expects to complete the sales process in the fourth quarter of this year.

"The sales process of such a large project incurs considerable administrative costs. But we are on schedule in this respect and expect to receive the financial benefits of this project in the fourth quarter," added Kuhlmann.

"The timely completion of this plant re-confirms our 2011 forecast of sales between EUR 260 million to €280 million and EBIT of €16 million to €18 million, despite the German market losing a lot of momentum."

To leave a comment you must first sign in or register your details

No comments

No comments have been submitted yet. Why not login or register and be the first?

Daily newsletter

Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter

Magazine subscription

Choose between a digital and print subscription from pv magazine's online shop. A non-subscriber? Check out our sample articles.

Press releases

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!