PV in Italy: S.A.G. Solarstrom completes 48 MW Serenissima plant by August 31st FIT deadline
- Serenissima PV plant near Venice, Italy, 48 MW
S.A.G. Solarstrom (Freiburg, Germany, U.S.) has announced that it has commissioned the 48 MW Serenissima solar photovoltaic (PV) plant in Italy by an August 31st deadline for feed-in tariff (FIT) rates and conditions.
The plant is S.A.G. Solarstrom's largest to date, occupying 150 hectares near Venice, Italy, and has its own transformer substation. Thanks to its rapid completion the plant is eligible to receive a FIT rate of EUR 0.256/kWh (USD 0.364/kWh).
“We sped up the project because of the changed legal situation in Italy. It was originally scheduled for completion at the end of 2011,” explained S.A.G. Solarstrom CEO Dr. Karl Kuhlmann. “It is no mean feat to shorten the construction period of such a large project by several months."
"This is why we are particularly proud that we were able to connect the system to the grid right on time for the deadline, which ensures us an average feed-in tariff of EUR 0.256 per kWh for the entire plant.”
S.A.G. Solarstrom to sell plant in 4Q 2011
The plant utilizes 200,000 PV modules, 1,160 km of cables and 2,700 tons of steel, and is comprised of 44 substations sized 1 MW in capacity with three inverters each.
S.A.G. Solarstrom expects to complete the sales process for the plant in the fourth quarter of 2011. The company states that the completion of the Serenissima plant on deadline confirms its 2011 forecast of sales between USD 370 and USD 400 million, at an EBIT margin of 6%.
Italian FIT capped at 1.2 GW for final four months of 2011
Italy's most recent Conto Energia policy contains monthly cuts to FIT rates from June 2011 until the end of the year, and half-year cuts beginning in 2012.
Also, as of September 31st, 2011 PV plants larger than 200 kW must register with Gestore Servizi Energetici SpA, and the FIT will be capped at 1.2 GW for the second half of 2011.
2011-09-05| Courtesy: S.A.G. Solarstrom AG | solarserver.com © Heindl Server GmbH
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