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Amplio secures EUR16m financing to invest in solar plants on Latina, Italy

The Amplio Group’s solar subsidiary, Amplio Solar, has secured EUR16 million in financing from a leading Italian bank to invest in 7 MW of solar plants in the Italian province of Latina, Lazio. This expansion brings Amplio Solar’s fully operational solar portfolio to over 30 MW, with a total investment to date of approximately EUR120 million.

Amplio Solar has built and project financed the 7 MW of solar plants in Latina, Lazio, with Rios Renovables of Spain as Engineering, Procurement and Construction (“EPC”) contractor. This latest investment underlines a successful 18 months for Amplio Solar, a period in which it has constructed approximately 20 MW of solar plants, following the expansion of the team in 2010.
 
Amplio Solar’s portfolio now reaches across a number of regions of Italy.  20 MW of ground mounted plants are distributed in Sicily (3 MW), Puglia (8 MW), Lazio (7 MW) and Abruzzo (2 MW). 10 MW of rooftop mounted photovoltaic (“PV”) arrays are clustered in southern Sardinia, in a high sunlight area where Amplio Solar also expects to build approximately 30 MW of similar additional rooftop PV plants throughout 2012.
 
Italy remains at least in the short term an attractive place for solar investment, particularly in selected sectors like rooftop mounted PV plants of less than 1 MW  and small size residential and commercial plants sectors in which Amplio Solar is already well positioned and moving aggressively.
 
Alberto Dalla Rosa, CEO of Amplio Solar, says: "We are excited to announce the continued expansion of Amplio Solar’s business, which strengthens our regional diversification and brings our total solar developments across Italy to over 30 MW.  Despite the challenging economic backdrop, we remain confident in the continued growth of Amplio Solar and look forward to reporting further substantial progress, in Italy and abroad, in the course of the year."
 
Riccardo Segat, CEO and Founder of Amplio Group, says: "This latest successful financing achieved in one of the most challenging economic environments is a testament to the strength and strategy of Amplio.  While funding across the Eurozone is becoming more scarce, Amplio Solar has succeeded in securing support from our equity partners and strong partnerships with EPC contractors, allowing the continued growth of the solar business.  Amplio Solar remains on track and focused on its goal of becoming a 100 MW business."

 

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