Day4 will provide Berkley with solar panels and related equipment and consulting services for the construction and maintenance of solar power projects in these countries.
Berkley will provide financing, receive ongoing revenue from the projects and also act as a sales agent for Day4’s solar panels.
Berkley expects to develop a minimum of 30MW of solar farms by the end of 2012, with the construction of the initial solar project expected to begin in May 2011.
The companies said Italy and Greece were targeted because of favourable and guaranteed feed-in tariff rates established by their respective governments to incentivize electrical generation from renewable sources.
