Altisolar, a medium-sized Korean company experienced in erecting solar power plants, has won the order from Solesa Green Power, to construct a number of solar energy plants in Italy to produce a total combined power of 19 MW.
The agreement news announced by the Korea Trade-Investment Promotion Agency (Kotra) was signed at its head quarters. By signing this agreement Altisolar has become the first medium sized Korean company to enter the Italian solar construction market. Though the exact details of the deal are not known, it is learnt that Altisolar has agreed to invest over $110 million into the project.
In accordance with the signed deal, the company will construct solar power plants in three dissimilar locations in the Italian state Tornio before the conclusion of the year. The plants are designed to produce around 33 million kWh power per year, which will be used to light around 30,000 households in the vicinity. According to Oh Hae-dong Altisolar’s Senior Executive Vice President, the company will be involved in another deal in Italy for completing a 50 MW power plant before the end of the year requiring around $300 million investment.
On talking about the current project, Oh said that Italy has a good external environment among all the European countries for solar power production. He also remarked about the receipt of incentives from the government of Italy in support of the project.