The ground-based solar PV power plant, which uses SunPower’s high-efficiency PV modules and single axis tracker technology with Siemens inverters, is expected to produce over 1.7 million kWh of electricity.
The Oria park, which is largely financed by a 17.5-year, non-recourse loan from Centrobanca, an Italian bank, is expected to produce more than EUR600,000 of earnings before interest, taxes, depreciation and amortization (EBITDA) per year.
The project benefits from a market price of approximately EUR 0.08/kWh and the 2010 feed-in-tariff of EUR0.346/kWh, a purchase price for solar electricity that is guaranteed by the Italian government for 20 years from the start of operations.
Etrion CEO Marco Northland said that the company ispleased to announce the completion of the Oria solar park built by SunPower and expect to connect the remaining 2MW of our SVE portfolio in Italy before the end of the year.
