Solaria Receives Financing for 8 MW PV Plant in Italy

Solaria Energia y Medio Ambiente SA says that Banca Infrastrutture Innovazione e Sviluppo, an Intesa San Paolo company, has agreed to provide 24 million euros in financing for the company's 8 MW Lazio solar project in Italy.

This ground-mounted solar plant is located in the vicinity of Orte (Viterbo, Venusia, Italy). It is owned by Solaria Aleph Generation FCR, which is 50% owned by Solaria Energia Y Medio Ambiente.

SOURCE: Solaria

Views:   What makes this noteworthy is that many investors looking at putting money into Italian solar PV projects are sitting on the sideline waiting for the new FIT guidelines to be issued.  

Solaria Nets US $45 Million in Financing

Solaria Corporation has closed US $45 million in a financing round led by CMEA Capital and DBL Investors. Other participants in the round include current investors Sigma Partners and NGEN Partners and new investors Mitsui Ventures and Savitr Capital.

"After a great deal of testing and field validation, we're now offering the Solaria module to leading customers in North America, Europe, and Asia."

-- Daniel Shugar, CEO, Solaria

Solaria said that it will use the financing to meet increasing global demand for solar modules for large and utility scale projects, the fastest growing PV market segment. Solaria modules are designed specifically for ground-mounted tracking systems and certified to UL1703 and IEC61215 standards.
 
“Utilities, solar integrators, and project developers tell us that they want a cost effective solar module that delivers proven crystalline efficiency and reliability,” said Daniel Shugar, Solaria's CEO. “That is exactly what we’ve spent years developing. After a great deal of testing and field validation, we’re now offering the Solaria module to leading customers in North America, Europe, and Asia. I’m proud to have been present at other milestones in the solar industry, and I believe this will prove to be the most significant yet.”