Italian solar company FuturaSun’s FENICE project, aimed at building a high-efficiency photovoltaic module plant in Italy, has passed the selection phase of the European Climate, Infrastructure and Environment Executive Agency (CINEA) as part of the non-repayable financing granted by the European Union's Innovation Fund.
“The new factory will produce more than 7.6 GW of high-efficiency photovoltaic modules in the first 10 years of operation,” the company, based in Cittadella in the northern Italian province of Padua, stated. “This is a significant contribution to the European energy transition objectives, with the European Union aiming to obtain 49% of energy in the building sector from renewable sources by 2030.”
Describing the project as “a groundbreaking initiative,” FutureSun said it would introduce the production of PV modules based on advanced technologies like n-type and xBC (Back Contact) in Italy and Europe.
The FENICE project is now in the Grant Agreement Preparation stage, “marking a crucial milestone towards establishing a state-of-the-art factory specializing in next-generation photovoltaic modules,” the company said. The next step will be the signing of the agreement with CINEA, the concession authority, to formalize the financing.
“The new factory, powered 100% by renewable sources, and with a nominal production capacity of 1.4 GW per year, will directly employ over 250 people,” the company added.
The project involves a total investment of approximately €53 million ($57.4 million), of which €21 million will be covered by direct financing from the EU through the Innovation Fund program.
Alessandro Barin, CEO of FuturaSun, recently explained to pv magazine Italy the methods and timing for the construction of the factory in Italy. “We would like to start the project in a concrete way in 2025,” Barin said.
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