|Orciano Pisano, Pisa, Italy|
|(cc) Marco Conti|
Day4 Energy, a leading global provider of solar photovoltaic products and solutions, announces an agreement with Orciano Ambiente Srl., a leading Italian solar project developer, to provide its 60-MCI Day4 solarMODULES for the first 1MW ground-mounted solar photovoltaic system to be installed in the town of Orciano Pisano, Italy.
Euro Sistem Srl., a leading Engineering, Procurement and Construction (EPC) firm for PV systems, is scheduled to complete the 1MW solar project by December 2010. The project is expected to be fully commissioned and operational by February 2011.
“As a leading European market for solar PV installations, Italy is projected to add roughly 1,000 megawatts of capacity each year over the next three years.” says Riccardo Felicioli, Senior Project Consultant. “And Day4’s participation in large-scale projects such as this one confirms the continued acceptance of their advanced solar modules in a rapidly growing market.”
The announcement also marks Day4 solarMODULES achieving bankability status in the Italian market from the project’s lending institution, Unicredit Leasing, one of the most reputable and active institutions for the leasing and project financing of large-scale solar installations in Italy. Unicredit was awarded “Italian Lessor of the Year 2010” at the Leasing Life Asset Finance Awards on November 10, 2010.
“Achieving bankability from one of Italy’s most respected financial institutions solidifies Day4’s position as a valued provider of advanced solar technology and emphasizes the high quality, durability and superior performance of our solarMODULES for large-scale projects throughout Europe.” says Luigi Fusi, Director of Sales and Corporate Development for Southern Europe.
“This project clearly demonstrates our efforts and progress to becoming a primary provider of solar solutions for the Italian market, and will be of significant benefit to our solarSYSTEMS manufacturing partners” concludes Mr. George Rubin, President of Day4 Energy.
Bankability is a term used by financial institutions as to whether the technology and products are seen as acceptable, dependable, and reliable in terms of the overall investment by the lending group. When determining bankability for solar energy project funding, financiers seek the lowest risk on the many variables present, which include product quality, completion likelihood, off-taker (power purchaser) credit worthiness, project model quality, and environmental factors.
Headquartered in Vancouver, Canada, Day4 Energy is a leading global provider of solar photovoltaic products and solutions. Active in the areas of research & design, manufacturing, technology licensing, and all aspects of project management, Day4 Energy is enabling the growth of solar energy throughout the world. Day4 is listed on the Toronto Stock Exchange under the symbol “DFE”. Day4 Energy conducts business in Italy under its wholly owned subsidiary, Day4 Italia.
An industry first, Day4 solarSYSTEMS is a program that enables businesses to manufacture, distribute, and sell certified DAY4 branded solarMODULES in their local region. It’s a revolutionary approach – a turnkey manufacturing package that allows participants to swiftly establish a production facility and generate revenue growth. Launched in early 2010, Day4 solarSYSTEMS is a turnkey manufacturing program to expand the supply and market penetration of Day4 branded solar modules and increase the worldwide adoption of solar.
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