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SunPower signs agreement for seven solar power plants in Italy.

M2 EQUITYBITES-31 March 2010-SunPower signs agreement for seven solar power plants in Italy(C)2010 M2 COMMUNICATIONS

Provider of solar technology SunPower Corp (Nasdaq: SPWRA) and Sol.In.Build Srl, a majority owned subsidiary of Veronagest SpA, have entered into an agreement to build seven solar photovoltaic (PV) power plants totalling 16.5 megawatts in the Sicily region of Italy. Financial details of the agreement were not disclosed.

The seven power plants will be built in the Sicilian municipalities of Cerami, Licata, Caltanissetta, Calamonaci, Mussomeli and Cammarata.

Making this announcement today, the companies said that the seven plants, with a combined area of 63 hectares, will range in size from one to 3.5 megawatts and will be complete by September 2010.

The construction, which will be financed by a pool of leading Italian and international banks, is expected to generate 50 jobs.

Under the agreement, at all of the Sol.In.Build sites, SunPower will install SunPower panels on fixed-tilt system technology and SunPower T0 Tracker systems.

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Publication:M2 EquityBites (EQB)
Date:Mar 31, 2010
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