SunEdison Sells Off Rovigo Solar Facility to First Reserve

SunEdison has sold off its solar energy facility to First Reserve. Upon completion during the last quarter of 2010, this solar energy facility would become the largest solar facility operating in Europe with a peak power generation capacity of 70 MW.

This solar plant has its location near Rovigo town in Northeast Italy. Prior to the sale to First Reserve, Banco Santander and SunEdison had jointly co-owned and developed this plant.

This sale demonstrates the capabilities of SunEdison in developing solar projects on a large-scale by way of working along with investors in designing and implementing the project finance structures while supporting the regional governments in terms of achieving renewable energy goals as well as producing green energy jobs.

The Rovigo plant is anticipated to create environmental benefits on a significant scale along with jobs towards benefiting the local community and economy as well. The solar facility is slated to prevent CO₂ emissions to the extent of 40,000 tonnes, an equivalent of powering 16,500 homes approximately or the equivalent of removing approximately 8,000 cars off the roads.