Global Offset Experts: Germany’s E.ON aims to add 16.3 MW of solar capacity in Italy.

Dec. 9, 2010 - PRLog -- Germany’s utility giant, E.ON has said in a statement available to Global Offset Experts that it will build four new photovoltaic installations that turn sunlight into power, in Italy with two of them coming on stream by the end of this year and two more expected to be up and running by the end of April 2011.


The new plants will produce about 23 million kilowatt hours of power a year, roughly enough to meet demand from 6,500 households and avoid emission of 12,000 tonnes of carbon dioxide (CO2), E.ON told Global Offset Experts. The company already owns a 1.4 MW solar plant in Italy.


E.ON, Germany's biggest producer of renewable energy, said it is expecting organic growth on Italy's solar market, meaning it does not foresee making any acquisitions there.


Italy's photovoltaic market has boomed since 2007 on the back of generous production incentives which have attracted investors ranging from families to utilities and sports car maker Ferrari, Global Offset Experts research reveals.


E.ON aims to boost operating profit at its renewables unit by about 70% this year thanks to a massive increase in installed capacity the unit's chief executive told Global Offset Experts sources recently.

In a connected matter, E.On has announced that it has sold its 3.5% stake in Russia’s Gazprom, which was held by its subsidiary E.ON Ruhgas. The German firm sold 2.7% of its stake to Russia’s state owned Vnesheconombank and the remaining 0.8% was sold on the market.

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