The plants will be developed in the southern Romanian counties of Gorj, Giurgiu and Dolj in a contract with privately-owned energy company Tinmar_Ind S.A.
Work has already started on the first 20 MW with construction set to be complete by the end of 2012 and grid connection in the first quarter of 2013. Construction of the remaining 30 MW is expected to start before the end of 2012.
ET Solar will supply the photovoltaic modules as well as provide operation and maintenance to the plants. Meanwhile, its German subsidiary, ET Solutions AG, will conduct EPC and construction financing.
ET Solar announced its intention to expand into the Romanian market by opening a subsidiary in Bucharest in July.
Tinmar CEO Augustin Oancea commented, "We are very pleased to collaborate with ET Solar as our strategic partner for these projects. ET Solar has proved to be a true one-stop solution provider given its strong ability to provide high quality module products, innovative turnkey solutions and tailor-made financing arrangements."
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