The projects are currently being built by Global Energy Services and are expected to be connected to the grid by March 2011.
“These large-scale multi-site projects are a further demonstration of United Solar's ability to supply premium, technologically-advanced photovoltaics for the international marketplace,” said Mark Morelli, President and CEO of United Solar's parent company, Energy Conversion Devices.
“We are rooftop experts and look at large installations as opportunities to deploy more Uni-Solar product, gain important field experience and drive volume through our factories,” he continued. “We look forward to this new partnership with Winch Energy being a great success for all parties involved, and for its positive impact on our global environment.”
The development of the projects greatly benefited from the 20-year Italian Feed-In tariff. Once operational, they’re projected to eliminate 9,000 tons of carbon annually from current fossil fuel energy creation, while producing enough energy to supply about 3,200 homes.
Ampere Equity Fund recently acquired a majority stake in the project, with senior debt financing arranged by Investec Bank PLC. In addition, Fichtner served as technical advisor on the project.
“This portfolio of projects additionally provides United Solar the opportunity to partner with two of the world's premier financial institutions, which enhances Uni-Solar's bankability,” Morelli said. “Investec and Ampere are examples of high-quality financing sources that have chosen to invest in Uni-Solar products, which have met their technical and financial investment criteria.”
The Winch Energy Group is a privately owned group of companies that has developed solar PV projects in France, Italy and North Africa, and also recently started projects in the UK and India.
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