European solar company Solon has sold a 1.5MW photovoltaic (PV) plant in Udine, north Italy, to Norwegian investment group EAM Solar for an undisclosed sum. EAM has also agreed to purchase a 3.1MW facility located 10km away.
Both plants have been connected to the grid and feature duel axis tracking systems with Solon PV modules. The sale also includes a five-year service and maintenance contract for Solon and both sites are eligible for subsidies under the Contra Energia II scheme.
Stefan Sauberlich, CEO of Solon, said, 'We have found a financially strong and experienced partner in EAM Solar, a company who shares our commitment in long-term quality. Solon power plants deliver high yields on a consistent basis - so that your initial investment actually pays off.'
Viktor Jakobsen, chairman of EAM, added, 'We are satisfied with this opportunity to acquire high quality, high efficiency power plants, which are representative of the type of assets that EAM Solar is investing in. We look forward to working with Solon in the years forward.'
Earlier this month, Solon connected a 1.6MW facility to the grid in the UK and signed an exclusive global licensing agreement with US company the Andersen Corporation for the distribution of its Fibrex material.