Etrion Corp, an independent solar power producer, and SunPower Corp., a US-based manufacturer of high-efficiency solar cells, solar panels and solar systems, announced an agreement to build two solar power plants, totaling 10 megawatts, in the Puglia region of Italy. Etrion will own the power plants, and SunPower will design, construct and provide operations and maintenance services for the plants.
SunPower is installing proprietary SunPower Tracker technology at the Italian sites. The Tracker follows the sun during the day and delivers up to 25 percent more energy than fixed-tilt systems, while significantly reducing land use requirements.
The 10-megawatt ground-based solar photovoltaic project is expected to produce 17 million kilowatt hours of electricity and 6 million euros of earnings to Etrion before interest, taxes, depreciation and amortization (EBITDA) per year.
Construction of the solar project is targeted to begin by the end of November 2010. The first electricity sales from the project under the Italian feed-in-tariff regime are expected during the third quarter of 2011. The Italian feed-in-tariff guarantees the purchase price for solar electricity by the Italian government for 20 years from the start of operations.
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