Solar

Interbanca Finances Enfinity’s Italian PV Park

Through their own subsidiary Enfinity 4 Srl, Enfinity Management BVBA has concluded the financing contract for a new solar photovoltaic (PV) power plant in the province of Foggia in Italy.

The project, to be completed by July 2009, could include up to six PV tracking systems with a maximum power output of 4.3 megawatts (MW). The financing, which amounts to approximately €25.5 million [US $37.7 million], has been granted by Interbanca.

Enfinity’s PV plant will receive an incentive of approximately €0.35/kWh [US $0.52/kWh] during 20 years for the produced electrical energy, equal to 7.5 gigawatt-hours per year, thanks to Italy’s incentive system for PV plants specified in the ministerial order of February 19, 2007, the Nuovo Conto Energia (New Feed-in Tariff).