The agreement covers turnkey construction of several solar power plants in the southern Italian region of Puglia: one 2.4 MW plant by the end of 2008 and five additional plants with nominal capacities of 10 MW each in 2008 and 2009. In addition, the agreement contains an option to construct a 100 MW plant between 2009 and 2011. Both tracked systems as well as fixed-tilt photovoltaic systems will be used in the projects.
The Puglia region is one of the most attractive regions in Italy for building solar power plants due to its geographic location with around 1,400 hours of sunshine annually and the local legislation supporting the installation of photovoltaic systems.
About Veronagest S.A.:
Veronagest is one of Italy's most active companies in the highly dynamic sector of renewable energy.Veronagest operates in the field of developing, financing and constructing wind power, hydropower and photovoltaic plants in Italy and in the rest of Europe. Veronagest has nearly 100 MW of wind power plants in operation in Italy and an additional 210 MW under construction. This sector, in which Veronagest has ten years of expertise, is today benefiting from new international scenarios.