Etrion has now completed the previously announced definitive sale and purchase agreements to acquire the equity in the first two phases of the SunPower Montalto di Castro solar park, for approximately €49 million. The acquisition of the 20MW first phase of the project was completed in August and the acquisition of the 8MW second phase was completed at the very end of September.
“With the closing of this acquisition, we are well on our way to completing the monetization of 85 MWs in Italy this year,” said SunPower CFO Dennis Arriola. “SunPower's world-leading technology and proven performance of more than 225MW of operational power plants in Europe has provided us with a strong set of potential financing partners, including many new participants to the solar market.”
SunPower will continue to provide operations and maintenance services for the 28MW plant.