Solar Utility SpA signed an agreement with Norwegian state-owned energy company Statkraft AS to develop and transfer eight solar power projects totaling almost 20 MW in the Italian region of Puglia. This first transaction signals an ambition to develop a powerhouse in renewable energy in Italy between the parties.

The agreement was signed today at the 24th European Photovoltaic Solar Energy Conference in Hamburg. The first phase is a joint development of photovoltaic plants in Italy where Statkraft, initially will acquire approximately 20 megawatts of solar power projects with license from Solar Utility. Work on establishing an EPC contract for the construction of the solar plants will start immediately.

The agreement allows Statkraft to grow faster in the Italian market, where a combination of high solar radiation levels and strong market outlook make Italy a top solar market for renewable players. For Solar Utility, the agreement represents an opportunity to strengthen its business as a co-developer of projects in cooperation with a solid industrial partner.

Tags: Statkraft