Project Focus: Acta signs €8.8M preliminary contract with SPF Energy

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Acta has signed a preliminary contract with SPF Energy (SPF) for the installation of large-scale photovoltaic parks in Italy during 2010. The installations will be completed through a joint venture partnership with Fedi Impianti (Fedi Impianti), one of Italy’s largest PV installation companies.

The total contract value is estimated to be approximately €50 million, subject to the joint venture being able to secure and deliver the installed capacity requested by SPF. The first phase of this contract, incorporating three installation projects, has been approved subject to final contracts with an aggregate value of €8.8 million, and installation is expected to begin by May.

Additional projects will be added under the terms of the preliminary contract over the coming months. The project duration of each installation is approximately four months from the beginning of building work.

In order to deliver these projects, Acta has formed a 50%-50% joint venture company with FediImpianti, which will operate under the name of ‘SolGen’.

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Paolo Bert, chief executive said, “During 2009 we have pursued partnerships and opportunities within the Italian photovoltaic installation sector, and we are delighted that these efforts have now culminated in our joint venture with Fedi Impianti and a major photovoltaic installation contract with SPF.”

 

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