JSM Financial: U.S. renewables firm SunEdison plans to build the world’s largest solar PV farm.

March 11, 2010 - PRLog -- SunEdison, the solar energy firm bought by MEMC Electronic Materials Inc in November 2009 for $200 million dollars, has received a boost in its plans to expand into the booming European solar energy market, JSM Financial sources report, when it received final approval from the Italian government to build a 72 MW (megawatt) photovoltaic solar power plant in Northeastern Italy.

The company with its headquarters in Beltsville, Maryland already has a significant portion of the U.S. renewable energy market where it owns and operates power plants and provides solar-generated energy to commercial, government, and utility customers.
The firm’s photovoltaic plants include a 7MW site in Spain, begun in 2008 as well as an 8.2MW, 320,000 m2  site in Colorado, completed in 2007, JSM Financial research revealed.

As Europe’s third-largest solar market after Germany and Spain, Italy has seen a steady increase in demand, and expects a dramatic increase toward the end of this year, ahead of the government’s plans to cut payments that renewable energy generators receive from power distributors.

The planned facility is expected to use ground mounted solar panels which are capable of tracking the suns movement, JSM Financial has been informed. Construction on the site is expected to begin in the second half of the year, with final completion before the end of 2010.

SunEdison has announced that the project will be a joint venture with Banco Santander, and that it expects additional financial partners to join the project for final ownership.

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