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Etrion completes 2.7MW Italian PV plant

22 Aug 2011

Switzerland-based independent solar developer Etrion has completed a 2.6MW ground-mounted photovoltaic (PV) plant in Lazio, Italy. The Nettuno facility uss modules from Chinese manufacturer Trina Solar with crystalline, fixed-tilt technology and inverters by SMA Solar.

Marco Northland, CEO of Etrion, said, ‘We are pleased to complete the Nettuno solar park ahead of schedule, and we look forward to finishing two additional parks shortly.’

The development was majority funded (84 per cent) by a syndicate of banks including Natixis, WestLB and Mediocreval through an 18-year non-recourse loan. In total, the company raised €60m for the construction of projects with a combined capacity of 17.8MW in Italy.

Etrion recently released results that saw the company increase revenue in the second quarter by more than $10m compared with the first three months of the year. This led to a 50 per cent reduction in net loss. In June Etrion signed an agreement with Chinese manufacturer Yingli for the supply of 10MW of PV modules.

Italy has reduced its feed-in tariff for solar projects but the director of TEP Solar recently told NewNet that there are still opportunities available within the country after closing on a 9.2MW deal.

Copyright © 2011 NewNet

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