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REC, ABB Form Consortium to Construct Solar Power Plant in Italy

Editorial Checklist

Reviewed

Feb 11 2011

REC Systems forms an EPC consortium with ABB for the construction of a 24.2 MW solar power plant. The plant is to comprise over 100,000 of REC’s Peak Energy modules and is to be situated in Italy’s Lazio region. REC’s business unit has financed and developed the project.

The solar power plant spanning 95 acres of land is expected to produce approximately 37 million kWh, which is sufficient to power 14,000 homes. Around 18,500 tons of CO₂ will be offset per year.

The project has been organized in Phenix Renewables, a special purpose vehicle company, which received the necessary authorizations. Unicredit Leasing, BNP Paribas Leasing Solutions and Leasint have financed the lease for the plant. CEF Energia and MedEnergy Group are among the future equity owners of this solar power plant.

Source:

http://www.recgroup.com

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