SunEdison, a solar energy services provider, has interconnected a 70MW solar photovoltaic (PV) power plant near the town of Rovigo in northeast Italy.

The Rovigo solar power plant was acquired through a joint venture (JV) between First Reserve Corporation and SunEdison.

First Reserve recently announced the execution of a EUR276m project finance facility for the project with some of the leading European banks, including Banco Santander, Unicredit Corporate Banking, Dexia Crediop, Natixis, Societe Generale and Credit Agricole.

SunEdison, a minority investor in the JV with First Reserve, will manage the ongoing operations and maintenance of the Rovigo power plant.

The company said that the Rovigo plant will create significant environmental benefits over its expected lifetime.

In its first year of operation, the system is expected to generate enough energy to power more than 16,500 homes and prevent the emission of more than 40,000 tons of CO2.