Dec 30 2010
Etrion Corporation, a Geneva, Switzerland-based independent solar power generating company, has declared the culmination of its Puglia, Italy, located Matino solar park. With the completion of the installation, the company has completed three solar parks in Italy under its 3 MW SVE projects.
The ground mounted solar power generating park incorporates single axis tracker type of solar modules manufactured by SunPower and deploys Siemens inverters to save the generated power. The solar park with a power generation capability of 1 MW is anticipated to generate around 1.7 million kilowatt hours of renewable electrical energy every year. The power generated from the plant per year is valued over 600,000 Euros before apportioning for taxes, depreciation, and interest and pay-back money. The project received nearly 83% of non-recourse financing from the Italian bank Centrobanca at 17.5% interest rate.
The project is anticipated to receive premium price for every unit generated under the feed-in-tariff program of the government for a period of 20 years. Every kWh of power generated from the project will receive 0.346 euros as feed-in-tariff in addition to the market price of 0.08 euros per kWh.
Source: http://www.etrion.com/