GENEVA--(BUSINESS WIRE)--Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), an independent solar power producer, announces the completion of the Nettuno solar park in Lazio, Italy.
Marco Northland, Etrion’s CEO, commented, “We are pleased to complete the Nettuno solar park ahead of schedule, and we look forward to finishing two additional parks shortly.”
The Nettuno park has a total capacity of 2.6 megawatts (“MW”) and is expected to produce more than 3.5 million kilowatt hours (“kWh”) of clean electricity and approximately 1.0 million euros of earnings before interest, taxes, depreciation and amortization (“EBITDA”) per year.
The project is expected to benefit from the feed-in-tariff (“FiT”) of 0.25 euros per kWh plus a market price of approximately 0.08 euros per kWh.
The Italian FiT is a premium purchase price for solar electricity that is guaranteed by the Italian government for 20 years from the start of operations.
The Nettuno park is a ground-based solar photovoltaic (“PV”) power plant built by Phoenix Solar using Trina modules with crystalline, fixed-tilt technology and SMA inverters.
A syndicate of banks, including Natixis, WestLB and Mediocreval, provided more than 84% of the financing for the project with an 18-year, non-recourse loan.
Monday, August 22, 2011
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