Ottobiano 4.3MW, Italy

Sonnedix announces completion of financial closing of a 4.28MW Solar PV Plant in Ottobiano, Italy

23 May 2011

Sonnedix announced the completion of the financial closing for the acquisition of a 4.28MW solar operating plant in Ottobiano, Italy. The plant has been in operation since 2009, and utilizes First Solar photovoltaic panels. It will be operated by Assyce Fotovoltaica SL, a leader in building and operating solar PV plants. Financing for the acquisition was provided to Sonnedix Italia by Mediocredito Italiano S.p.A. Bank on a non recourse basis.

Andreas Mustad, Sonnedix CEO, said: “This financing complements our growth strategy in Europe. We are pleased to have as our partners in this project both Mediocredito Italiano and Assyce Fotovoltaica”. He added: “In addition to generating renewable solar power, the Ottobiano plant displaces 2,381 tons of carbon per year; and thus provides a substantial benefit to the people in and around Pavia and Milano. The plant is able to off set the carbon discharge of the equivalent of 8.5 million motor vehicle kilometers a year or the pollution produced by over 400 cars. In our view, as a result, Ottobiano will continue to make a significant contribution to improving the local environment in this region of Italy for years to come “.

About Sonnedix: Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants. Sonnedix develops, builds, owns and operates solar power plants globally.

I’d put my money on the Sun and Solar Energy, what a source of Power!I hope we don’t have to wait until oil and coal run out, before we tackle that.

Thomas Edison in conversation with Henry Ford and Harvey Firestone, 1931