Solarhybrid is near to closing the financing for its 123MW solar PV plant in the Puglia region of Italy, Bloomberg reports. Albert Klein, Solarhybrid CFO advised that the US$287 million project is scheduled to start construction in November. Klein commented on company components, stating, “We’re seeing a strongly growing market for large-scale PV plants because prices for inverters and modules have fallen so drastically.”
The company additionally revealed the launch of its American subsidiary, Solarhybrid America, headquartered in Oakland, California and led by former Q-Cells CEO Till Utermöhlen. Solarhybrid anticipates strong market growth in the US over the coming years and feels well positioned to participate in the large-scale PV power plants that will be developed. Solarhybrid America is looking to start developing projects in the US over the next 18 months ranging in size from 15MW to 25MW. Projects with a 100MW capacity are expected to begin in 2013.