aleo solar has helped finance and equip a new 1MW PV system in Vittorio Veneto, Italy. The Germany-based module manufacturer joined forces with Ailita Engineering and Italian bank BIIS on the project, which was connected to the grid in May.
In its first year of operation the aleo-powered array is expected to generate more than 1.2 million kWh of electricity. Building work on the project took less than two months and was carried out by Ailita.
“Together with the installer and aleo partner Ailita Engineering S.r.l. as well as the Bank BIIS (Banca Infrastrutture Innovazione e Sviluppo) we founded a special purpose vehicle in order to offer both a technical and a financial solution,” said Giovanni Buogo, aleo’s European sales manager.
“For us as a public institution, secure financing and a cooperation with reliable partners were in the forefront of the tendering process and the project,” Vittorio Veneto's Mayor, Gianantonio Da Re added. “aleo solar and its partners provided quality both in terms of products, as well as service in the different phases of the project.”
The Vittorio Veneto development is further evidence of the successful expansion aleo’s downstream business outside of Germany, highlighted in last week’s Q3 financial results. Growth in Italy and several European countries inspired a 54% rise in international revenue, from €118.6 million in the first three quarters of 2010 to €183.5 million for the same period in 2011. Total revenue for the opening three months of the year came in at €344.6 million, a 16.4% decrease on 2010’s corresponding figure.