The factory will manufacture integrated multi-junction, thin-film photovoltaic (PV) cells and modules.
The Catania plant has an initial solar panel production capacity of 160MW per year, and is expected to increase to an annual 480MW over the next years.
The manufacturing facility has been financed through a mix of capital from the partners, CIPE, which earmarked EUR49m, and three lending institutions: Banca IMI, Centrobanca and Unicredit.
As per the agreement signed in August 2010, each of the three JV partners subscribed to a third of the capital, committing EUR70m each in cash or in tangible and intangible assets.
Enel Green Power and Sharp have formed a second JV, ESSE (Enel Green Power & Sharp Solar Energy), to develop, build and operate PV systems in the Middle East and Africa area with an output target of about 500MW by 2016.
The second JV is intended to use panels manufactured by the Catania factory, which will also be employed on the 1MW photovoltaic plant that ESSE will build on the rooftop of the new factory.
