Germany-based Gehrlicher Solar has sold five solar parks to White Owl Capital (WOC) with a total capacity of 10.4MWp.
The solar installations are situated in the regions of Lombardy and Emilia-Romagna in northern Italy.
Berlin-based White Owl Capital is the sole investor in the transaction and all systems were connected to the grid before the feed-in tariffs were reduced with effect from 1 September 2011.
'We are very satisfied that we can expand our long-standing collaboration with the sale of our projects to WOC. We value WOC as an experienced partner for investment in sustainable energy and are delighted that we will be able to pursue projects with them in future,' said Tim Jungblut, vice president ground mounted systems at Gehrlicher Solar and member of the executive board at Gehrlicher Solar Italia.
'We continue to see great sales potential in Italy beyond 1 September - for both ground-mounted and roof-mounted systems as well as for our wholesale business.'
Gehrlicher Solar said it completed a number of ground-mounted and rooftop systems in northern Italy in the first six months of 2011.
Gerald Kumerle, technical director Ground Mounted Systems at Gehrlicher Solar and chairman of the board of Gehrlicher Solar Italia said, 'The rapid and smooth execution of these five projects once again shows our international expertise in the construction of solar power plants. It is our belief that Italy will continue to be an important market for photovoltaic systems next year and beyond.'