Etrion will own the power plant, while Phoenix Solar will design, construct and provide operations and maintenance services for the park.
The 2.6MW solar facility will use Trina modules with crystalline, fixed-tilt technology and SMA inverters.
Construction on the Nettuno solar power project is expected to be complete by 31 August 2011.
The first electricity sales from the solar facility under the Italian feed-in-tariff regime are expected during the fourth quarter of this year.
The Italian feed-in-tariff guarantees the purchase price for solar electricity by the Italian government for 20 years from the start of operations.
The companies said the Nettuno park is expected to receive a feed-in-tariff of €0.25 ($0.35) per kWh plus the market price of approximately €0.08 ($0.11) per kWh.
The 2.6 MW project is expected to produce 3.5 million kWh of electricity and nearly €900,000 ($1.28m) of earnings to Etrion before interest, taxes, depreciation and amortization (EBITDA) per year.
