Etrion, a company that develops, constructs, owns and manages solar power plants, declared that it has contracted an accord with ABB, a power and automation engineering group, to finish building its Helios ITA 3 solar project, designed to generate 10 MW power.
Etrion's Montalto 33 MW solar park in Lazio, Italy
The project is located in the Puglia region of Italy. ABB will provide the design, complete the construction and continue to offer operations and repair services for the solar parks owned by Etrion.
The 10 MW Helios ITA 3 project comprises two solar PV parks presently under construction at Mesagne and Brindisi. Each of the ground-mounted solar parks is designed to generate 5 MW power. Earlier, Etrion on its own has delayed construction of the project to get clarification from the Italian government on the availability of the feed-in-tariff program for the projects that are connected to the grid after 31st May 2011. The company commenced the project on the clarification order issued by the government on 5th May 2011 and chose ABB as its new project contractor to complete the project.
The project is anticipated to get completed by August 2011 and will commence its commercial production under the feed-in-tariff program in the last quarter of 2011. The project is anticipated to receive €0.25 per (kWh as feed-in-tariff in addition to the market price of around €0.08 per kWh. The feed-in-tariff program will pay the guaranteed price to the project for a period of 20 years. The 10 MW project will generate around 16.8 million kWh of power every year and allow Etrion to earn around €4.6 million before the annual deductions such as interest, taxes, depreciation and amortization.