Plans to invest over 200 million Euros in 42MW Italian solar project announced

Utrecht, 15 January 2009 – Econcern, leading sustainable energy solutions company, has announced plans to install 42MW of solar capacity in Puglia, southern Italy. Project Trullo will start with the construction of seven 1MW solar parks early in 2009; the parks are expected to be in operation by 2010. 

The company is tapping into the huge growth potential of the Italian solar market.
Once complete Project Trullo will add 15% to Italy’s 280MW solar power generation capacity currently installed . Econcern has ambitions to increase its Italian solar assets portfolio to at least 50MW and is currently reviewing other potential projects. 

Econcern will own 51% of shares in the holding company of Project Trullo. The Ampere Equity Fund, an active investor in renewable energy projects, has acquired the remaining 49%.

The development of solar energy assets across Europe is a core area of business for Econcern; the company installed 35MW in 2008 and expects to install another 75MW this year. Kees van der Leun, board member for Econcern recently predicted newly installed solar power to exceed other energy sources within ten years. He said that the International Energy Agency estimates of solar growth by 2020 would be achieved by next year.

Econcern’s director of project development, Dennis Lange said: “The Italian solar market has exceptional growth potential. It is anticipated that it will grow from 280MW installed by the end of 2008 to 5,000MW by 2020. We have ambitions to become a leading player in the Italian solar market. As a company we have a mission to ensure a sustainable energy supply for everyone. Development of major solar energy assets will have a big role in creating a sustainable future.”

Econcern builds finances for and operates large scale renewable energy-generation assets. It has recently announced agreements to invest €863m in onshore wind farms in China.

Trullo Project Key Characteristics:
The 42MW project is expected to produce approximately 60,000 MWh of energy per year once completed, enough for 15,000 households. The project in total is expected to reduce CO2 emissions by 30,000 tonnes.

Phase 1:
In the initial phase seven solar parks will be built with a capacity of 1MW each. After completion they will produce a combined total of approximately 10,000 MWh of energy per year, enough for 2,500 households; and will be responsible for reducing CO2 emissions by 5,000 tonnes a year. Construction will start in 2009, and the parks are expected to be fully operational by early 2010. Each plant will be situated on a site of 3 to 4 hectares. Ground mounted, fixed inclination crystalline solar panels will be used.
 
Econcern (www.econcern.com)
Econcern’s mission is ‘a sustainable energy supply for everyone’. Econcern consists of operating companies Ecofys, Evelop, Ecostream, Ecoventures and OneCarbon. Together they deliver unique projects, innovative products and services for a sustainable energy supply. Econcern, which employs over 1,200 professionals in more than 20 countries across the world, was ranked No. 234 in Europe’s top 500 listing of high growth, job-creating companies in 2007 and has won the European Business of the Year Award 2008.

Ampere Equity Fund
The Ampere Equity Fund invests in renewable energy projects in Western Europe; with amounts ranging from between 10 and 50 million EUR per investment. The fund has been initiated by Econcern's project development division to provide a dedicated source of equity capital for its project pipeline. The fund also has a limited capacity for investments in other European renewable energy projects. The fund has attracted major institutional investors and has a total committed capital of 320 million EUR. Triodos Investment Management is the independent fund manager.

Econcern
Patrick Harms
PR Officer
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