The majority of projects will be fitted with UNI-SOLAR brand photovoltaics, which are to be built by Global Energy Services and are expected to be connected to the grid by March 2011, benefiting from the 20-year Italian feed-in tariff.
All of the projects, once operational, will help eliminate 9,000 tons of carbon annually from current fossil fuel energy creation, while producing enough energy to supply 3,200 average homes.
Ampere Equity Fund recently acquired a majority stake in the project, with senior debt financing arranged by Investec Bank. In addition, Fichtner served as technical advisor on the project.
Energy Conversion Devices president and CEO Mark Morelli said that this portfolio of projects additionally provides United Solar the opportunity to partner with two of the world’s premier financial institutions, which enhances UNI-SOLAR’s bankability.
