The program will provide rebates that cover up to 50% of the cost for purchasing and installing a storage system coupled to a PV system.
The PV plant portfolio will be acquired from Italian renewable energy company ErgyCapital for €68 million.
Net proceeds from the bond issue will be used to finance the company’s international expansion and the relaunch of Elettronica Santerno, the unit specializing in inverter production.
The Italian solar market has registered a 19% year-on-year growth in the first five months of this year. In May alone, newly installed PV power totaled 95.2 MW.
Funded by the EU with €14 million ($14.9 million), the AMPERE project was launched at Enel Green Power’s PV module manufacturer 3SUN’s headquarters in Catania, Sicily. Further funding of €14.1 million currently under evaluation.
The Italian government has decided that PV installations up to 3 kW relying on irregular or non-certified components will maintain 80% of the incentive amount granted by the Conto Energia.
The rules were harmonized with the regulation for revamping and repowering of PV systems issued by the GSE in March.
The Italian fund was able to reach €250 million in funding through its fourth and final financing round.
As it continues to consolidate, the Spanish solar power company is on track to expand its PV portfolio.
A report published by the Energy and Strategy Group at the Polytechnic University of Milan forecasts that a further 4.4 GW of renewable energy generation capacity could be installed in Italy in the period 2017-2020. Solar and wind are expected to have the largest share.
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