May 7 2010
SunEdison, which is a part of MEMC Electronic Materials, Inc., has announced plans to construct 12 solar energy power plants having capacities of 1 MW in Lecce province in Apulia, Italy. SunEdison has also finalized a financing deal worth €47 million with German bank Norddeutsche Landesbank Girozentale. Earlier, the company announced plans to build a photovoltaic plant having 72 MW capacity near Rovigo town in Italy.
SunEdison’s president Carlos Domenech commented that even as the company expands its operations in Italy, the company targets growth opportunities in countries such as Canada, the U.S. and other European regions. The new solar power plants demonstrate the company’s expertise in developing rooftop retail facilities as well as utility-scale ground-mount operations.
The Energy Origination Europe Head of Norddeutsche Landesbank Girozentale Heiko Ludwig stated that the financing provided to SunEdison highlights the bank’s advisory capabilities, client focused strategy and commitment to the renewable energy industry.
During the first year of functioning, the solar power plants in Lecce are likely to generate sufficient energy to power over 3,300 homes and in the process reduce CO2 emissions which equals removing 2,000 cars from the road. Already seven of the solar power plants in Lecce are fully functional and have been sold during Q1 of 2010. The rest of the five solar plants are currently under construction and are likely to be functional by Q3 of 2010.