Powertis indicators an agreement with Aquila Funding for joint development in Italy of projects totaling up to 750 MW

• Adhering to the finalizing of the agreement, Powertis will transfer a 10-project plan amounting to 249MW
• Aquila acquisitions 51% of project equity, with the staying 49% still in the hands of Powertis

Powertis, business belonging to Soltec Power Holdings and concentrating on large-scale photovoltaic or pv solar projects in Brazil, Italy as well as Spain, has actually sealed an arrangement with Aquila Capital for the advancement in Italy of photovoltaic solar power projects amounting to 750 MW.

On December 29, Powertis and also Aquila signed a contract by which the previous will certainly move an initial 10-project package totaling up to 249 MW, of which Aquila has undertaken control of 51% of the equity, whereas the remaining 49% continues to be in the hands of Powertis up until the Ready to Build (RTB) phase or Commercial Operation Date (COD).

Aquila has actually likewise participated in a phone call option for the staying 49% which can be worked out either throughout the "Ready to Build" (RTB) phase or on the "Commercial Operation Date" (COD).

Powertis is utilizing modern technology and also single-axis solar trackers to create these projects. The agreement likewise ensures that Soltec Energías Renovables will certainly safeguard certain rights for the supply of solar trackers for these projects, in addition to the hiring of project building and construction and style works (EPC).

Similarly, this contract permits Powertis to additional create its strategy of photovoltaic or pv solar energy project growth as well as debt consolidation in Italy, and supplies Soltec Industrial with the opportunity to both offer EPC as well as develop solar trackers for these projects.