TerniEnergia to construct two PV parks in Sardinia

ITALY: TerniEnergia, a company operating in the renewable energy sector, entered into certain agreements with TRP PVE BV, an Italian-Chinese joint-venture company incorporated by TOLO and SAAE (whose scope is investing in the photovoltaic (PV) sector both in Italy and in Europe) and MILIS ENERGY.

The above mentioned agreements rule the design, construction, putting into operation, management and maintenance of two solar parks whose total power is 12 MWp and whose counter-value is Euro 40 million. TerniEnergia shall carry out operation and maintenance activities of the same plants pursuant to a contract having a 20-year period duration.

MILIS ENERGY SPA is a company totally owned by TRP PVE BV, the joint venture company incorporated by the Italian company TRP - Technologies and Resources for the Planet belonging to TOLO Group- and the Chinese company SAAE (Shanghai Aerospace Automobile Electromechanical Co. Ltd), the latter company being listed on the Stock Exchange Market of Shanghai and having a capitalization of approximately Euro 1.3 billion.

The company Shanghai Solar Energy Science & Technology in Shanghai (China) shall supply the panels for the construction of such plants.

The plants, to be constructed in Sardinia, in the Municipality of Milis (Province of Oristano) are expected to be commissioned in the period ranging between the end of this year and the end of the first quarter of 2011.

TerniEnergia’s chairman and MD, Stefano Neri, commented: “This international contract is significant under an economic viewpoint, it projects our Group into the world photovoltaic market and strengthens the collaboration already started with TOLO Group at the beginning of last February. This work order is a further piece of our project of growth that we aim at reinforcing through the share capital increase transaction that the Company’s shareholders’ meeting recently approved.”

Gilberto Gabrielli, CEO of the TRP-SAAE joint-venture, added: “This significant investment, that positively consolidates our relationship with TerniEnergia, financed by China Development Bank and organized availing of Tolo Group’s Italian experience, is an important example of Italian-Chinese technologic, financial and business cooperation in this field. The above mentioned joint-venture company has in the pipeline investments for further 17 MW for the year 2011.”