REC Systems and ABB have closed financing and begun construction of a 24.2MW solar power plant in Lazio, Italy. Authorisation for the 95-hectare project was granted in March 2010 and, when completed, the system’s 100,000 REC modules will generate around 37 million kWh of electricity a year.
Funding for the system, which is Italy’s largest lease-financed development, is coming from Unicredit Leasing, Leasint and BNP Paribas Leasing Solutions. And, with 70% and 30% stakes respectively, the BNP Paribas-backed CEF Energia and MedEnergy Group will be the Lazio site’s future equity owners.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
“REC is pleased to work with BNP Paribas and ABB to realise this landmark project. Good collaboration with the banks throughout the development process made it possible to utilise an efficient financing solution,” said John Andersen Junior, REC's executive vice president and group COO.