Discover our upstream and downstream technical journals
Image: European Energy.

Image: European Energy.

Danish developer European Energy has secured €96.5 million (US$113.59 million) in funding for Italy’s largest solar park.

European Energy also claims the agreement, with French financial service firm Natixis, marks the first Italian PV farm to be financed without having first been supported by state subsidies.

Located in Apulia, near Foggia, the Troia solar farm was connected to the grid in June after one year of construction and is expected to generate some 150 million kWh of electricity each year.

In total, the financing operation is related to solar farms in Apulia with a combined capacity of 121.5MW, divided into three sections: 63MW in operation since November 2019, 40MW in grid parity completed in June 2020 and 18.5MW in grid parity to be finished by October 2020.

Knud Erik Andersen, co-founder and CEO of European Energy, said the company is ready to invest heavily in similar projects in Italy over the next five years. “Italy is one of our main markets, as we can pair the climate conditions and sunny days with cutting-edge solar technology,” he added.

European Energy told PV Tech earlier this year that the modules selected for the Apulia solar farms are Risen Energy’s 370Wp mono-PERC modules, fitted onto a fixed substructure. Those modules enabled the project to use half of the land compared to those featured in originally submitted designs.

Tags: italy, european energy, finance, utility-scale solar

Upcoming Webinars

Revealing the most bankable and reliable PV module suppliers for utility-scale deployment in the US

Jan 20, 2021 GMT

Virtually all PV modules for large-scale utility-based solar sites are imported to the US, especially from Chinese companies using manufacturing sites across Southeast Asia. This puts extreme pressure on US site developers, EPCs and investors, in understanding fully the differences between the companies offering imported PV modules How credible are the companies supplying the products? What is the financial health of the parent entity? Where is the module produced, and is this undertaken in-house or through third-party OEMs? What is the supply-chain for the module sub-components including wafers and cells? And then, how will the modules perform in the field, and is it possible to gauge reliability levels benchmarked against competitors? This webinar will provide insights from two of the leading experts in PV module manufacturing, supply, performance and reliability: Jenya Meydbray of PV Evolution Labs and Finlay Colville from PV-Tech. The 1-hour session will include presentations from Jenya and Finlay, and then a brand-new supplier scorecard matrix that combines the key outputs from PVEL's Module Reliability Scorecard and PV-Tech's PV ModuleTech Bankability Ratings, with specific focus on module supply and use in the US market.

Register now

Solar Media Events

Utility Solar Summit, UK & Ireland

May 26 - May 27, 2021

ONLINE

Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.

Find out more

Solar Media Events

Solar Finance & Investment Europe

Feb 03 - Feb 04, 2021

ONLINE

The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.

Find out more

Comments