AES Solar Secures Financing for Solar Project in Italy

31 July 2011 (Last Updated July 31st, 2011 18:30)

AES Solar has secured €68m long-term non-recourse financing facilities for the construction of an 18MW solar photovoltaic in Italy. The loan will cover up to 81% of the estimated cost of the project. The four projects in Lazio, Puglia, and Sicily are expected to commenc

AES Solar has secured €68m long-term non-recourse financing facilities for the construction of an 18MW solar photovoltaic in Italy.

The loan will cover up to 81% of the estimated cost of the project.

The four projects in Lazio, Puglia, and Sicily are expected to commence commercial operations by the end of the third quarter of 2013.

Completion of the projects will qualify them for a 20-year regulated feed-in tariff under the Conto Energia renewable energy tariff structure.

AES Solar is a joint venture between AES Corporation and private equity firm Riverstone Holdings.