Aug 10 2010
SunPower Corp officially declared that Etrion Corporation, a sovereign solar power manufacturer, has signed a definitive sale and purchase accord valued at €48 million to purchase shares in the initial two phases of the Montalto di Castro photovoltaic power plant constructed in Italy.
The company has taken possession of 20 MW during the first phase of the construction valued at €36 million The second phase of acquisition for 8 MW valued at €12 million is awaiting the standard closing condition formalities and is predicted to close through the third quarter of 2010.
SunPower Corp, which has designed and constructed the 28 MW power plant located in the Lazio region of Italy, will also extend services for the operation of the plant and its maintenance. The solar plant incorporates high productive SunPower solar panels along with its patented SunPower power tracker system to deliver 25% more energy than ordinary panels and to drastically reduce the ground requirement for the installation of the system. The company was able to connect the 20 MW first phase of the plant ahead of schedule to the grid during month of November 2009 and is planning to commission its second phase of 8 MW and an additional capacity of 44 MW before the end of this year2010 thus making the total power production to 72 MW. The total power production at Montalto solar park is rated as 28 AC and 38 MW DC.
Yoram Amiga, who leads SunRay Energy a SunPower Company as its CEO, complimented the project team for the successful closure of the deal. He explained the intention of the company to finish the construction of the 280 MW plant in phases before the end of the year 2011.