Etrion Corp., an independent solar power producer, has completed the Matino solar park in Puglia, Italy.
The Matino park has a total capacity of 1 MW and is expected to produce over 1.7 million kWh of electricity and more than 600,000 euros of earnings before interest, taxes, depreciation and amortization per year.
The project is expected to benefit from the 2010 feed-in tariff of 0.346 euros/kWh, plus a market price of approximately 0.08 euros/kWh, according to Etrion. The Matino park is a ground-based solar PV power plant using SunPower's PV modules and single-axis tracker technology with Siemens inverters.
Centrobanca, an Italian bank, provided 83% of the financing for the project with a 17.5-year nonrecourse loan.
SOURCE: Etrio Corp.