Euro Sistem Srl., a leading Engineering, Procurement and Construction (EPC) firm for PV systems, is scheduled to complete the one MW solar project by this December. The project is expected to be fully commissioned and operational by February 2011.
"As a leading European market for solar PV installations, Italy is projected to add roughly 1,000 megawatts of capacity each year over the next three years," says Riccardo Felicioli, senior project consultant. "And Day4's participation in large-scale projects such as this one confirms the continued acceptance of their advanced solar modules in a rapidly growing market."
The announcement also marks Day4 solar modules achieving bankability status in the Italian market from the project's lending institution, Unicredit Leasing, one of the most reputable and active institutions for the leasing and project financing of large-scale solar installations in Italy. Unicredit was awarded "Italian Lessor of the Year 2010" at the Leasing Life Asset Finance Awards on November 10, 2010.
"Achieving bankability from one of Italy's most respected financial institutions solidifies Day4's position as a valued provider of advanced solar technology and emphasizes the high quality, durability and superior performance of our solar modules for large-scale projects throughout Europe," says Luigi Fusi, director of Sales and Corporate Development for Southern Europe.
"This project clearly demonstrates our efforts and progress to becoming a primary provider of solar solutions for the Italian market, and will be of significant benefit to our solarSYSTEMS manufacturing partners," concludes Mr. George Rubin, president of Day4 Energy.
Bankability is a term used by financial institutions as to whether the technology and products are seen as acceptable, dependable and reliable in terms of the overall investment by the lending group. When determining bankability for solar energy project funding, financiers seek the lowest risk on the many variables present, which include product quality, completion likelihood, off-taker (power purchaser) credit worthiness, project model quality, and environmental factors.
