Independent solar power producer, Fotowatio Renewable Ventures (FRV) is to work with BP Solar on a number of utility-scale PV projects in Italy, totalling 37.1MW. BP Solar will construct the facilities, while FRV will own and operate the plants at a cost of €125 million (U.S. $167 million), which are expected to be completed by the end of this year.
“This deal adds to the five 1MW solar plants we have already built in the region and to the 10MW site we have started building in Lazio, and helps us expand in Italy,” commented Andrea Fontana, Country Manager of FRV in Italy. “The agreement combines our ability in structured finance and project management with BP Solar’s industrial capabilities.”
“This agreement strengthens BP Solar’s photovoltaic business in Italy, a solar market we consider globally strategic,” says Gianni Chianetta, Managing Director of BP Solar Italia. “These latest projects add to the 8MW we built in 2009, and to the 11MW that are scheduled to be completed in the first six months of 2010. Partnering with reliable companies such as FRV is a core BP strategy that has allowed us to develop 1 GW of solar projects last year, with residential, commercial and large scale plants.”
FRV said that it now owns a total of 205.9MW of projects in Spain, Italy, and the United States. It also has 44.04MW under construction in Italy.