(SeeNews) - Aug 6, 2013 - Norway’s solar company Renewable Energy Corp ASA (OSL:REC) said Tuesday it had disposed of 7.87 MW of solar parks on Sardinia to IKAV Global Energy Sarl, part of Luxembourg investment fund IKAV SICAV FIS.
The deal involved the 5-MW Villacidro, 1-MW Pischedda, 901-kW Ulmos and 990-kW Lula solar power plants on the Italian island. The facilities include some 31,000 REC solar modules in total, which are estimated to generate 12.5 MWh of power per year.
IKAV director Constantin von Wasserschleben noted that the good return on investment was important when considering solar investments. “The quality and performance of the REC installations on Sardinia make this a very sound investment for the Fund,” Wasserschleben added.
All four systems were planned, developed and built by the vendor’s systems arm. REC Systems head Matthias Ermer said that thanks to its local partners and stakeholders, the company was able to complete the Sardinia projects in a very short timeframe. Ermer added that REC expected solar interest in Italy to shift to small-scale installations of below 200 kW now that feed-in tariffs are no longer available.