In The News - SunEdison Spotlight
SunEdison Activates 70MW Solar Plant in Rovigo, Italy.
Europe’s largest solar plant built, financed and commissioned in only 9 months
The 70 MW solar power plant in Rovigo, Italy is Europe's largest single site solar farm to date. The project created approximately 350 local construction jobs and building expertise in advanced energy technologies. The plant was officially activated in November 2010. In its first full year of operation, the system will generate enough energy to power 17,150 homes and offset 41,000 tons of CO2 -- the equivalent of removing 8,000 cars from the road.
Read the activation press release and excerpts from news coverage:
SunEdison, a
leading worldwide solar energy services provider and a subsidiary of
MEMC Electronic Materials (NYSE: WFR), announced today that it has
received the final milestone payment of 230 million Euros from First
Reserve for the sale of a 70 megawatt (MW) photovoltaic (PV) power plant
located in Northeast Italy, near the town of Rovigo.
The 70MW (DC) PV power plant in Rovigo, Italy
has been successfully interconnected, according to SunEdison, a subsidiary of
MEMC Electronic Materials. Hailed as the “the largest single-operating PV solar
power plant in Europe,” the project was
completed in nine months and is expected to generate enough energy to power
more than 16,500 homes.
First
Reserve Corp., the energy- focused private-equity firm, formed a joint
venture with SunEdison to invest in solar-power projects. SunEdison,
a division of St. Peters, Missouri-based MEMC Electronic Materials
Inc., and First Reserve initially will contribute $167 million each to
the venture, the companies said today in a statement. The partnership
may eventually buy as much as $1.5 billion of projects developed by
SunEdison. Private-equity
firms are eyeing infrastructure deals, often in partnership with
companies, to capitalize on increasing energy demand around the world.
We remain encouraged by SunEdison’s solar initiatives. We believe the consistent efforts in this area will lower costs facilitating faster adoption of solar technology in the years to come.
