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Amplio closes on 6MW Italian solar plants

The Amplio Group, an operator and investor in the renewable energy and environmental sectors, has completed and connected two plants of 1MW each and expects to connect by the end of the month four additional plants of 1MW.

Amplio’s investment will be approximately EUR13m for a total of 6MW of solar plants in the provinces of Foggia and Lecce in the region of Puglia in southern Italy.

This brings Amplio’s total investment in solar in the last 12 months to approximately EUR33m, financed in part with equity and vendor finance in order to accelerate construction of the solar plants.

Amplio is expanding its solar team and in 2010 will be seeking finance for an additional 20-30MW, which are in the final permit stages and ready to commence building.

Once the plants are fully operational, Amplio intends to refinance its solar portfolio with senior bank debt.

This additional 6MW will bring Amplio’s fully operational solar portfolio to a total of 9MW. Amplio has already built and project financed 3MW in Sicily, with Martifer as engineering, procurement and construction contractor. Amplio has been working with three other EPC contractors, Ecoware and Sinergia Sistemi of Italy and Solarig of Spain.

In July 2009, Amplio secured EUR40m from institutional investors to build a pipeline of up to around 100MW of photovoltaic solar plants over two years. In order to achieve this, Amplio is continuing to expand its solar business into other markets through strategic partnerships with companies active in the installation of solar plants on the roofs of industrial buildings and companies operating in other geographical markets such as France and America.

Alberto Dalla Rosa, chief executive of Amplio Solar, says: "This additional 6MW gives Amplio Solar a good regional diversification as we now have 3MW operating in Sicily and a pipeline of fully integrated solar developments in other regions including Sardinia, the Marche and centre-north areas of Italy. At Amplio, we remain confident of reporting further significant progress in the year ahead."

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