Swiss renewable energy firm Etrion Corporation has completed the Matino solar park in Puglia, Italy.
The 1MW Matino park is a ground-based solar PV power plant using SunPower’s high-efficiency PV modules and single axis tracker technology with Siemens inverters.
The Matino park has a total capacity of 1MW and is expected to produce over 1.7 million kWh of clean electricity.
The solar park is also expected to produce more than EUR600,000 of earnings before interest, taxes, depreciation and amortization (EBITDA) per year.
In addition, the project is expected to benefit from the 2010 feed-in-tariff of EUR0.346 per kWh and a market price of approximately EUR0.08 per kWh.
Centrobanca, an Italian bank, provided 83% of the financing for the project with a 17.5-year, non-recourse loan.