Nov 24 2010
Etrion Corporation, a solar power producing company, and SunPower Corp, a manufacturer of high end solar cells, panels and systems, declared that they have entered in to an accord to construct two solar plants with a total power production capability of 10 MW in Puglia region, Italy.
As per the clauses of the accord, SunPower will design and install the solar power plant, manage the power production and extend maintenance services while Etrion will own the plants.
The solar power plants will incorporate an exclusive SunPower Tracker technology provided by SunPower. The tracking technology unlike the fixed tilt type of solar panels will continue to track the movement of the sun all through the day and generate up to 25% more power. On completion, the two ground-based solar plants will produce over 17 million kWh of electric power every year and allow Etrion to earn over 6 million euros as income before the deduction of required depreciation, pay back money and taxes every year. The solar project is expected to commence the construction during November this year and is anticipated to get completed and become ready for grid connectivity in the third quarter of 2011. The feed-in-tariff announced by the Italian government guarantees purchase price for the power produced from the plants for a period of 20 years from the production commencement date.
Marco Northland, CEO of Etrion, while expressing happiness about the accord with SunPower said that the installation of the two 5 MW solar power plants at Mesagne and Brindisi sites will augment the total clean energy power portfolio of the company. He added that the proposed project will amply showcase the development and implementation capacity of the team.