Enel, Sharp, STMicro Inaugurate Italy Photovoltaic JV Plant

Enel, Sharp, STMicro Inaugurate Italy Photovoltaic JV Plant
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Παρ, 8 Ιουλίου 2011 - 18:18
Enel SpA (ENEL.MI), Sharp Corp. (6753.TO) and STMicroelectronics NV (STM) Friday inaugurated their Italian facility to produce photovoltaic panels for an initial total investment of almost EUR400 million as they target the growing solar renewable market.
Enel SpA (ENEL.MI), Sharp Corp. (6753.TO) and STMicroelectronics NV (STM) Friday inaugurated their Italian facility to produce photovoltaic panels for an initial total investment of almost EUR400 million as they target the growing solar renewable market.

The venture, called 3Sun Srl, aims to manufacture the panels, using thin-film technology from the Japanese company, by the end of the year. The first year's production will total 160 megawatts, to increase to up to 480MW by 2014 if market conditions allow it.

"We could eventually reach an annual production of 1 gigawatt," said Andrea Cuomo, chairman of 3Sun, at a press conference in
Catania , on the island of Sicily .

The panels will target the European and African markets, with a special focus on the Mediterranean basin.

The total investment is made up of EUR70 million from each of the three partners, plus EUR49 million from the Italian state and the rest from bank loans under project financing rules.

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