Comal buys land for 500-MW solar factory in Italy

Italian photovoltaic systems installer Comal SpA (BIT:CML) has acquired an industrial site in the Province of L'Aquila where it plans to build an up to 500-MW factory to produce solar modules.

The land was bought as part of a EUR-16.1-million (USD 17.5m) investment earmarked for the project, Comal said on Wednesday. Italian bank Mediocredito Centrale is providing EUR 5 million through a mortgage loan with a term of 10 years.

The site in the region of Abruzzo, east of Rome, will become home to a manufacturing facility for photovoltaic (PV) modules, which will be supplied for residential and industrial-scale applications in the Italian market. Production activities at the plant are expected to kick off by 2025.

The project is seen to have major importance for Italy’s PV value chain and is expected to contribute to lowering the country’s energy dependence, Comal said.

Set up in 2001, Comal currently focuses on providing engineering, procurement and construction (EPC) as well as operation and maintenance (O&M) services. As announced in early 2024, the PV factory project was secured by the company in a domestic tender managed by Invitalia.

(EUR 1.0 = USD 1.086)

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