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E.U. grants aid to Sharp, Enel, STMicroelectronics merger for Italian PV investment

08/05/2011 Comments off

European Commission

Image by tiseb via Flickr

The European Commission has granted 49.06 million euros ($69.99 million) in aid to the joint venture of Sharp Corporation, Enel Green Power SPA, and STMicroelectronics for photovoltaic investment in eastern Italy.

The joint venture created the company 3Sun SrL, which will invest 358.68 million euros for the production of PV modules in Catania, an Italian city in the east coast of Sicily.

The plant will produce thin-film PV modules with a projected 240 megawatts per year production capacity. It’s completion is expected by the end of 2012.

Italy generated 193 gigawatt-hours of electricity from solar PV in 2008, estimated by the International Energy Agency. Read more…

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