REC and ABB building 24 MW Italian solar plant

The two companies, which have formed a temporary EPC consortium, received all the required authorizations in March 2010, and closed financing early last month. When complete, the plant will reportedly cover around 95 hectares and comprise 100,000 REC solar modules.

In relation to the financing, a leasing structure is in place, which was provided by Unicredit Leasing (Unicredit Group), Leasint (Banca Intesa Group) and BNP Paribas Leasing Solutions (BNP Paribas). The future equity owners reportedly include CEF Energia B.V., a BNP Paribas Fund with a 70 percent stake, and MedEnergy Group with a 30 percent stake.