Solaria Closes 46m Euro Deals To Fund Solar Plants In Italy Czech Republic | Solaria

Solaria Energia y Medio Ambiente, S.A. has recently signed

 two  funding agreements totalling 46.5 million euros to finance the construction of solar plants in Italy and the Czech Republic with a total generation capacity of 12.8 MW, company sources said.

The first agreement, signed with Italy’s largest retail bank, Intesa San Paolo, is to provide 23 million euros for a 5.8 MW greenhouse rooftop plant in the southern Italian town of Uta. The plant is owned by the investment fund Solaria-Aleph Generación, a 50-50 joint venture fund participated in by Solaria.  

In the Czech Republic’s Bohemia region, Solaria is to fund two solar plants with a total generation output of 7 MW with 23.5 million euros to be made available by the Czech bank Ceskoslovenska Obchodni Banka (CSOP).

The construction of the plants in both countries is part of Solaria’s international expansion strategy and the company’s bid to consolidate its position in Europe. Aside from Italy and the Czech Republic, the company has also signed business agreements and constructed solar plants in France, Germany and Greece. Seventy percent of the Solaria’s revenues in the first half of 2010 come from foreign markets, a company report said.