SunEdison has interconnected a 70-megawatt (MW) photovoltaic power plant in Northeast Italy, near the town of Rovigo. The deployment, which is now the largest single-operating PV solar power plant in Europe, was completed and interconnected in a nine-month time period, the company said..
The Rovigo solar power plant was acquired by First Reserve through a previously announced joint venture between First Reserve Corporation and SunEdison.
First Reserve recently announced the execution of a EUR 260 million project finance facility for the project with some of the leading European banks, including Banco Santander (NYSE: STD, Unicredit Corporate Banking, Dexia Crediop, Natixis, Societe Generale and Credit Agricole. SunEdison, a minority investor in the joint venture with First Reserve, will manage the ongoing operations and maintenance of the Rovigo plant.
"SunEdison has proved it is highly efficient and reliable as a leader in executing large scale solar projects like Rovigo," commented Mark Florian, Managing Director of First Reserve Energy Infrastructure. "We are proud to add this flagship project to our energy infrastructure portfolio and look forward to developing new opportunities for our joint venture with SunEdison in the future."
SunEdison is a division of MEMC Electronic Materials (NYSE: WFR).
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