The ground-based project is expected to produce over two million kilowatt hours of electricity and more than 700,000 of earnings before interest, taxes, depreciation and amortization (EBITDA) per year. Phoenix Solar will design and construct the Rio Martino plant, and provide operations and maintenance services.
The plant will use Trina modules with crystalline, fixed-tilt technology and SMA inverters, said Etrion. Construction is targeted to begin this October and is scheduled to be completed by the end of the year.
Furthermore, Fernando Alvarez-Bolado, Etrions VP of Engineering and Construction, said: "The previously announced 3.5 MW Borgo Piave project, signed with Phoenix in July 2010 is well underway. All the piers and modules have already been installed, and Phoenix is on target to complete construction of the Borgo Piave park by November.
"We expect both the Rio Martino and Borgo Piave projects to benefit from the 2010 feed-in tariff. Etrion expects to exit 2010 with almost 50 MW operational and aggregate project-level EBITDA of almost 30 million per year."