• Most Popular
  • Most Shared

Italy's Intesa Sanpaolo, Pramac form solar JV

Wed Apr 16, 2008 8:54am EDT

Stocks

   

MILAN, April 16 (Reuters) - Italy's leading retail bank Intesa Sanpaolo (ISP.MI) and engineering group Pramac (PRAM.MI) said on Wednesday they have set up a joint venture to push into the booming photovoltaic energy business.

The new company, Solar Express, will be 60-percent owned by Pramac with the rest held by Intesa Sanpaolo. It aims to install 11 megawatts of photovoltaic energy generation systems in the first year of operations, the two groups said in a statement.

Photovoltaic energy, which turns sunlight into power, got a boost in Italy last year after the government approved a series of incentives for the sector. (Reporting by Svetlana Kovalyova)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers were to lose most Fox programing at midnight on Thursday unless the cable service provider reached a last-minute deal to pay fees to News Corp to broadcast the shows.

» More Top News
A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Global Markets
Clients work out on machines at the Bally Total Fitness facility in Arvada, Colorado June 15, 2009. REUTERS/Rick Wilking

Get real with resolutions

We make them and we break them: The secret to keeping them is to avoid the impossible dream.  Full Article 

Lifestyle