The project has a total capacity of 696.15 kWp and has been structured without a feed-in-tariff approach. Martifer believes the project has achieved a breakthrough in terms of a solar PV business model in that Italy now has the possibility to build a stable solar industry without relying on government initiatives. The power generation from the project will be at a Levelized Cost of Electricity (LCoE), which is equal to or less than the price of electricity being sold from the grid.
“As a future-oriented company, Martifer Solar achieved a historical milestone with this project completed together with IKEA Group” said Henrique Rodrigues, CEO of Martifer Solar. “This achievement means that solar energy is as cost-competitive as any other energy source in Italy and principally, without subsidies. The solar industry is approaching grid parity in an increasing number of places worldwide.”
Martifer took responsibility for the EPC (engineering, procurement and construction) of the 696.15 kWp plant and will also be responsible for the subsequent Operation and Maintenance (O&M) service. The project incorporates around 2,700 modules installed on fixed frames and will produce electricity equivalent to that supplied to nearly 800 inhabitants avoiding 373 tons of CO2 emissions per year.
Ferdinando Ricco, Technical Installation Manager of IKEA Italia Property S.r.l. said that the installation of the facility in Pisa, which is the largest of the company’s stores in Italy, is the first step into the deployment of polycrystalline technology by the company.
Last year, analysts at Deutsche Bank predicted that markets such as Italy and India would see a transition from feed-in-tariffs to “sustainable” markets with a surge in grid parity projects within a year. According to latest iHS research report among 700 EPC contractors, Martifer Solar was appointed as the 5th largest player at the European level and 16th in the World’s PV integrators ranking.
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