Italian PV systems integrator, TerniEnergia has acquired project developer Capital Energy in an effort to boost its target of PV installations in Italy and add to its pipeline of projects. TerniEnergia noted that it had already reached its previously announced plan to install 22MW in 2009, which occurred in the third quarter of 2009. The acquisition of Capital Energy gives the company a pipeline of 6 PV plants and 6MW of installations that were said to be in an advanced phase of authority approval.
As of the end of September, TerniEnergia counts 122 completed PV projects, having an aggregate capacity exceeding 35 MW. During the first nine months of 2009, the company completed the construction of 24 photovoltaic plants of medium and large sized projects with a total power of 21.9 MW.
The company recently posted third quarter revenue of €34.6 million (+43% on Q3 2008).