SAG Solarstrom gets EUR 80m financing for Italian PV project

(ADPnews) - Jul 1, 2011 - German photovoltaic (PV) power plant specialist SAG Solarstrom (ETR:SAG) said today it received financing of EUR 80 million (USD 116m) from Deutsche Bank (ETR:DBK) for a 48-MWp solar farm in Italy.

SAG Solarstrom also announced it has ordered solar modules with an overall capacity of 36 MWp from Trina Germany, a subsidiary of Chinese company Trina Solar (FRA:TR3). A large part of the ordered modules will be used in the solar project in northern Italy, which should be completed and connected to the electricity grid by the end of August.

SAG Solarstrom said it ordered the modules at favourable prices, taking advantage of the current price pressure on the components market.

(EUR 1.0 = USD 1.451)

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