Etrion will own the two five MW power plants, while SunPower will design, construct, and provide operations and maintenance services for them. In total, the project is expected to produce 17 million kilowatt hours of electricity and 6 million of earnings to Etrion, before interest, taxes, depreciation and amortization (EBITDA) per year.
Construction is scheduled to begin by the end of this month; the first electricity sales from the project under the Italian feed-in tariff regime are expected during the third quarter of next year.
Marco Northland, Etrion’s CEO commented: "The two five MW sites in Brindisi and Mesagne are part of our internal portfolio and once again demonstrate our team’s development and execution capability. Solar is a clean, silent, renewable source of energy that is becoming an increasingly valuable and necessary part of the world’s energy mix."