Etrion to Acquire Stake in SunPower’s Italian Power Plants

10 August 2010 (Last Updated August 10th, 2010 18:30)

Etrion will acquire a €48m ($63m) equity stake in the first two phases of the Montalto di Castro solar photovoltaic (PV) power park, developed by SunPower. The 28MW project comprises a 20MW first-phase plant and an 8MW second phase plant built in Lazio, Italy. The acquisi

Etrion will acquire a €48m ($63m) equity stake in the first two phases of the Montalto di Castro solar photovoltaic (PV) power park, developed by SunPower.

The 28MW project comprises a 20MW first-phase plant and an 8MW second phase plant built in Lazio, Italy.

The acquisition of the first phase of the project for €36m ($47m) has been completed, and the acquisition of the second phase for €12m ($15m) is expected to close by the end of the third quarter, 2010.

SunPower has planned an incremental 44MW to be completed and sold by the end of 2010, bringing the total to 72MW.

The Montalto di Castro park uses high-efficiency SunPower solar panels installed on a SunPower Tracker system.