SOLON & Deutsche Bank Close 150-MW Solar Deal

SOLON S.p.A., the Italian subsidiary of SOLON AG, concluded a framework agreement with Deutsche Bank for the development and construction of solar power plants in Italy. The agreement involves the development and construction of turnkey solar power plants with a total capacity of up to 150 megawatts (MW).

The term of the agreement is from 2008 to 2010. The majority of the solar parks will be built in southern Italy.

According to the official Italian statistics, the total capacity of photovoltaic systems installed in Italy has reached only 120 MW so far. According to SOLON and Deutshe Bank the scope of this agreement underscores the fact that the photovoltaic business in Italy is now starting to pick up considerably.

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