Martifer Solar, subsidiary of Martifer SGPS, has signed an agreement with a company managed by BNP Paribas Clean Energy Partners for the construction of a 22MWp photovoltaic solar installation in Portugal.

Martifer Solar, besides the technical implementation of the project, will also be responsible, under a turnkey contract, for the supply and installation of all the required equipment.

The PV plant is due to be completed by the first half of 2012 and will reinforce Martifer Solar's leading position as photovoltaic solutions provider worldwide.

The project appointed to Martifer Solar will produce 37.4 GWh/year, the equivalent to the average consumption of more than 10,000 Portuguese families and will avoid the emission to the atmosphere of around 15.200 tons of CO2/year.

According to Mr. Henrique Rodrigues, Martifer Solar's CEO, who declares being very pleased with the signing of this relevant contract, "It demonstrates Martifer Solar's capacity to attract foreign investment towards the Portuguese renewables sector, despite the current difficult economic juncture."

"These 22 will be the first of a total of 33MWp to be built by Martifer Solar in South Portugal; I'm sure that these projects will bring relevant benefits for this region, both economically and environmentally," stated Mr. Rodrigues.