Etrion, who is an independent producer of solar power, has completed the Helios ITA-3 solar project in Italy.
The total capacity of this solar project is 10 MW and the company has predicted that this project will produce € 5.0 million of earnings before interest, taxes, depreciation and amortization (EBITDA) per year and clean electricity of 16.8 M kWh.
The company is expecting that this solar project will be benefited from the feed-in-tariff (FiT). The Italian FiT gives the best purchase value for solar electricity, which is assured for 20 years by the Italian government from the commencement of the operations.
This Helios ITA-3 solar project contains two ground-mounted solar photovoltaic parks with a capacity of 5 MW, Mesagne and Brindisi. ABB constructed both the parks by means of Yingli poly-crystalline PV modules, which was mounted on the SunPower single axis trackers along with inverters from Bonfiglioli.
The group of banks comprising Mediocreval, Natixis, WestLB offered 80% financing to the project through an 18-year, non-recourse loan.
The CEO of Etrion has stated the company has completed the Helios ITA-3 parks before the scheduled time and within the budget. Etrion thanked the hard work of the excellent local group, company’s contractors and Enel, the local utility. Currently, the company has an entirely-funded, working 60 MW solar portfolio in Italy with considerable cash flow.