The project has a total capacity of 10 MW and is expected to produce 16.8 million kWh of clean electricity, and €5.0 million of earnings before interest, taxes, depreciation and amortization per year, the Swiss company said.
“We completed the Helios ITA-3 parks ahead of schedule and under budget thanks to the hard work of our superb local team, our contractors and the local utility, Enel,” said Marco Northland, the company’s CEO. “ Etrion now has a fully-funded, operational solar portfolio of 60 MW in Italy with significant cash flow. We continue to review opportunities for growth in Italy and abroad.”
The project is expected to benefit from the Italian feed-in-tariff of 0.25 euros per kWh plus a market price of approximately 0.08 euros per kWh. The FiT is guaranteed by the Italian government for 20 years from the start of operations.
The Helios ITA-3 project includes two 5 MW ground-mounted solar photovoltaic parks, Brindisi and Mesagne. Both parks were built by ABB using Yingli poly-crystalline PV modules mounted on SunPower single axis trackers with Bonfiglioli inverters.
A syndicate of banks, including Natixis, WestLB and Mediocreval, provided 80 percent of the financing for the project through an 18-year, non-recourse loan.
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