Berlin-based White Owl Capital had acquired 5 PV power plants built by Gehrlicher Solar Italia, a subsidiary of Gehrlicher Solar for an undisclosed sum. Using First Solar CdTe thin film modules and SMA inverters, all the plants were grid connected before feed-in tariffs were reduced at the end of August, 2011. The projects, with a total power of 10.4MWp, are situated in the regions of Lombardy and Emilia-Romagna in northern Italy.
“We are very satisfied that we can expand our long-standing collaboration with the sale of our projects to White Owl Capital. We value WOC as an experienced partner for investment in sustainable energy and are delighted that we will be able to pursue projects with them in future,” explains Dr. Tim P. Jungblut, Vice President Ground Mounted Systems at Gehrlicher Solar AG and member of the executive board at Gehrlicher Solar Italia S.r.l. “We continue to see great sales potential in Italy beyond 1 September – for both ground-mounted and roof-mounted systems as well as for our wholesale business.”
According to Gehrlicher, a total of 133,680 CdTe modules from First Solar were installed as well as a total of 15 inverters from SMA.
The plants sold included; Cremosano (2.6MWp), Dovera (1.3MWp) and Palazzo Pignano (3.6MWp), which are located in Lombardy.
Plants named Polesine 2 (1.6MWp) and Polesine 3 (1.3MWp) are situated in the Emilia-Romagna region of Italy.
Combined, the systems now produce around 12.2 million kilowatt hours of green electricity each year.
“Investors looking for security in the light of volatile financial markets are best advised to invest in existing power plants. This is precisely the strategy that we have pursued with the acquisition of the Gehrlicher Solar systems,” noted Tobias Pehle, CEO, White Owl Capital AG. “Gehrlicher Solar is our long-standing strategic partner, who uses its technical expertise to optimise the efficiency of power plants, providing our investors with a secure and high-yield investment.”