Etrion Announces Completion of Rio Martino Solar Park in Lazio, Italy

Etrion Corporation, Switzerland-based independent solar power producing company, declared the installation completion of the Rio Martino solar park located in Lazio, Italy.

The solar power project designed to produce around 1.7 MW of clean solar energy is anticipated to generate around 2 million kWh of clean solar energy. The project constructed by Phoenix Solar incorporates ground-based crystalline solar photovoltaic modules produced by Trina Solar. The solar modules incorporate fixed-tilt type of technology and SMA inverters for storing power. The power generated from the facility will have the advantage of feed-in-tariff structure of the country and will receive 0.346 euros for every kWh of energy generated in addition to the prevailing market rate of around 0.08 euros per kWh. The power purchase price is assured for a period of 20 years from the date of starting the operations by the government of Italy.

The project is anticipated to earn around 700,000 euros every year before allocating for interest, taxes, depreciation and amortization (EBITDA). The project received around 80% of its funding from a group of banks, which include WestLB, Natixis and Mediocreval in the form of a non-recourse loan at 18% PA interest rate.