Solon Takes Over Italian Solar Module Manufacturer

[RenewableEnergyAccess.com] Germany’s Solon AG is making an early move on the Italian grid-connected solar PV market. The company is taking over S.E. Project Srl, an Italian company that manufactures and distributes solar modules. The purchase will take effect January 1, 2006, as a capital increase in the form of a non-cash capital contribution. A purchase price of 500,000 shares in Solon AG has been agreed on. S.E. Project is one of the most significant suppliers of solar modules and solar system technology on the Italian market, with production capacities of 10 MW and anticipated annual revenues of EUR 80 million (USD $93 million) for 2006. The aim of acquiring S.E. Project for the Solon Group is to tap into the emerging potential of the Italian photovoltaic market at an early stage. Italy will be an important European market for photovoltaics in the future based on the feed-in tariffs for solar energy, secured in July of this year, and the country’s great solar resources.

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