Italian PV project developer Enertronica announced that its board of directors have given their approval for a US$18.2 million convertible bond.
The bond, which will be placed through a private placement in September, will be used by the company to support its international ventures — including areas such as the US and South Africa. Enertronica recently opened its US subsidiary, Enertronica Inc. — with the new company opening up a new office in Boston.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The bond will also help the company relaunch PV inverter manufacturer Elettronica Santerno, which Enertronica acquired last year.
Elettronica Santerno recently signed a contract to supply 27MW of PV inverters to a project in Nevada, USA that was valued at about €2.5 million.
Looking back at the company’s performance so far in 2017, Enertronica also noted that its revenue for the first six months of the year is currently tabbed at US$52.5 million, along with a pre-tax profit of US$1.6 million.
