The Canadian-based energy company has signed a non-binding term sheet to acquire the plants for cash consideration of approximately 45 million, plus the assumption of the related non-recourse loan facilities.
The company says that the plants – operational or near operational, ground based solar photovoltaics (PV) power plants – are expected to produce over 55 million kilowatt hours (kWh) of electricity and generate a cash flow of over 20 million per year. They will benefit from the 2009 feed-in-tariff of 0.353 per kWh or the 2010 feed-in tariff of 0.346 per kWh, plus a market price of approximately 0.08 per kWh.
Marco Northland, Etrions CEO, commented: "We are very excited about this potential acquisition to strengthen our solar PV portfolio in Italy. If completed, the acquisition would more than triple the size of our company in terms of installed capacity, and it would make us one of the major solar power players in Italy. We look forward to closing the transaction soon."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.