The Italian partner, Eurobox Impianti, is a developer of renewable energy projects including wind and solar power projects. The initial capacity amounts to 30MW of monocrystalline and polycrystalline silicon solar modules, with a potential to generate revenues in excess of $100 million annually. Asola will hold the controlling stake in this joint venture.
Reinhard Wecker, the founder and CEO of Asola, said: This deal gives us access to the Italian market, which is the third largest solar energy market in Europe with potential for 250MW in 2009. Our partner brings significant experience in this fast-growing market. Their in-house project development and system integration capabilities allow them to undertake large solar power projects.
