Euro Sistem Srl., a leading Engineering, Procurement and Construction (EPC) firm for PV systems, is scheduled to complete the 1-MW solar project in the province of Pisa sometime this month. The project is expected to be fully commissioned and operational by February 2011.
“As a leading European market for solar PV installations, Italy is projected to add roughly 1,000 MW of capacity each year over the next three years.” says Riccardo Felicioli, Senior Project Consultant. “And Day4’s participation in large-scale projects such as this one confirms the continued acceptance of their advanced solar modules in a rapidly growing market.”
Bankability reached
The announcement also marks Day4 solarMODULES achieving bankability status in the Italian market from the project’s lending institution, Unicredit Leasing, one of the most reputable and active institutions for the leasing and project financing of large-scale solar installations in Italy. Unicredit was awarded “Italian Lessor of the Year 2010” at the Leasing Life Asset Finance Awards on 10 November 2010.
“Achieving bankability from one of Italy’s most respected financial institutions solidifies Day4’s position as a valued provider of advanced solar technology and emphasizes the high quality, durability and superior performance of our solarMODULES for large-scale projects throughout Europe.” says Luigi Fusi, Director of Sales and Corporate Development for Southern Europe.
“This project clearly demonstrates our efforts and progress to becoming a primary provider of solar solutions for the Italian market, and will be of significant benefit to our solarSYSTEMS manufacturing partners” concludes Mr. George Rubin, President of Day4 Energy.
Bankability is a term used by financial institutions as to whether the technology and products are seen as acceptable, dependable and reliable in terms of the overall investment by the lending group. When determining bankability for solar energy project funding, financiers seek the lowest risk on the many variables present, which include product quality, completion likelihood, off-taker (power purchaser) credit worthiness, project model quality, and environmental factors.
Day4 solarSYSTEMS
Day4 Energy also markets a turnkey manufacturing programme which it describes as "an industry first". The Day4 solarSYSTEMS programme enables businesses to manufacture, distribute and sell certified DAY4 branded solarMODULES in their local region. “It is a revolutionary approach – a turnkey manufacturing package that allows participants to swiftly establish a production facility and generate revenue growth,” says the company, and is aimed to “increase the worldwide adoption of solar”.
Headquartered in Vancouver (Canada), Day4 Energy is involved in the areas of R&D, manufacturing, technology licensing and all aspects of project management. The company conducts business in Italy under its solely-owned subsidiary, Day4 Italia.
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