SunPower Corp Completes Solar Power Installation for Etrion

SunPower Corp declared that Etrion Corporation, an autonomous solar power producing company, has fulfilled the obligations of an earlier signed agreement for the acquisition of the 1st two stages of Montalto di Castro solar PV Park located in Italy. Etrion has paid a total of €49 million to acquire the 28 MW project.

The first phase of 20 MW was completed during last August and linked to the grid during November 2009 by SunRay Renewable Energy which was then acquired by SunPower during May 2010. The second phase of the 8 MW was concluded by SunPower last week. The company will offer regular maintenance services for the project. SunPower is planning to increase the power production capability of the project by 44 MW and complete the sales formalities by the end of the year to make the total power production potential of the park to 72 MW. The solar park will incorporate SunPower solar panels for efficient power production along with the SunPower patented solar power tracker system. The suntracker will follow the sun all through the day and harvest 25% more energy than the fixed type of solar systems while reducing the land requirement for installation.

SunPower treats the first phase of the project as return on its capital investments and the money received for the second stage as delayed engineering, procurement and construction (EPC) income. The company has completed around 600 MW worth of solar power installations all over the world and has installed nearly 225 MW worth solar power production facilities in Europe alone.