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06/10/2008 06:11 AM
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Solon, Deutsche Bank Agree on Financing for Italian Solar Plants
SustainableBusiness.com News
Solon S.p.A., the Italian subsidiary of Berlin-based Solon AG (SOO1.DE), concluded a framework agreement with Deutsche Bank for the development and construction of solar power plants in Italy.
The agreement involves the development and construction of turnkey solar power plants with a total capacity of up to 150 megawatts (MW). The term of the agreement is from 2008 to 2010. The majority of the solar parks will be built in Southern Italy.
Thanks to its favorable geographic conditions and an attractive feed-in compensation scheme for solar energy, the Italian market is now the third most promising growth market in Europe after Germany and Spain.
Solon says that the scope of this agreement underscores the fact that the photovoltaic business in Italy is now starting to pick up considerably.
Last week Solon announced that it had acquired a minority stake in Estelux, a company that produces polisilicon--the raw material used to make photovoltaic solar cells.
Website: http://www.solonag.com/
