http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/rec-to-construct-24-2mw-solar-plant-following-positive-quarterly-report.html

REC Systems, a business unit of REC, has developed, financed and is now constructing in collaboration with ABB, a 24.2MW solar power plant located in the Lazio region of Italy.

REC, which announced fourth quarter 2010 results yesterday that were above expectations, has used 100,000 REC modules at the installation.
Its revenues totalled NOK4.9bn (€620m) for the quarter while its EBITDA amounted to NOK1.8bn.
The Lazio project has been financed through a leasing structure with the financial close and first draw-down completed in early January.
Unicredit Leasing, Leasint and BNP Paribas Leasing Solutions have all contributed to the financial package.
The future equity owners of the project include CEF Energie, a BNP Paribas fund with a 70 per cent stake and MedEnergy Group with a 30 per cent stake.
John Andersen, executive vice president and group COO of REC, said, ‘REC is pleased to work with BNP Paribas and ABB to realise this landmark project. Good collaboration with the banks throughout the development process made it possible to utilize an efficient financing solution.’
Construction of the plant will begin immediately after financial close and by jointly managed by ABB and REC that have formed a temporary EPC consortium.