The grant was made through Quercus subsidiary Lux Renewable Holdings, which specializes in utility-scale renewable energy infrastructure investments. Once the PV plant is fully operational, it will support the local communitys energy needs, while also helping the region to reduce its carbon emissions.
Construction on the 20 MW plant began back in March 2015, with BENQ solar modules and ABB inverters being installed on the site. Once it is completed, the energy will be purchased on a feed-in tariff.
Quercus acquired the project from the developer at the pre-construction stage, under a concession contract with the local authorities. As the area was hit with a strong earthquake in 2009, the project has been granted a subsidized rate as part of the Conto Energia, which supports regions hit by the earthquake.
The diverse investment company has been partaking in a lot of activity in the solar industry over the last few years, acquiring solar projects in the U.K. and also numerous projects across Europe.
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