Italy's Sistema Rinnovabili bags debt funding for 30-MW solar project
Image by: Cubico Sustainable Investments.
August 12 (Renewables Now) - Italian renewable power utility Sistema Rinnovabili has obtained debt financing of EUR 32 million (USD 33m) to bankroll the construction and operation of a 30-MW solar photovoltaic (PV) project in Italy’s Lazio region.
The loan facility was extended by the Milan office of Dutch lender ING Bank NV, the Italian firm said in a press statement.
To be installed in the province of Viterbo, the solar farm will operate under a 10-year power purchase agreement (PPA) facilitated by Axpo Italia, which is part of the Axpo Group and is the third largest operator in the free energy market in Italy. The plant’s future output will be sold to an unnamed Italian industrial customer operating in the chemical sector.
Sistema Rinnovabili currently owns 42 MWp of solar parks in operation and is aiming to achieve 400 MWp, according to its website. The company, which acquires commissioned plants and is also developing its own projects, says it has more than 1 GW of schemes in advanced development. Additional projects totalling over 50 MW are due to be announced in the autumn, it noted.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.