SunPower Sells Italian Solar Power Plant

SunPower Corp. says that Etrion Corp. has signed a definitive sale and purchase agreement to acquire the equity in the first two phases of the Montalto di Castro solar photovoltaic power park. According to the company, this project is the largest in Italy. The purchase price was 48 million euros.

The acquisition of the 20 MW first phase of the project – for 36 million euros – has been completed. The acquisition of the 8 MW second phase for 12 million euros remains subject to standard closing conditions and is expected to close by the end of the third quarter of this year 2010, SunPower says.

SunPower designed and built the 28 MW power plant in the Lazio region of Italy near Rome and will provide ongoing operations and maintenance services. The first 20 MW were connected to the grid in November 2009. The 8 MW second phase was commissioned this month.

SOURCE: SunPower Corp.

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