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TerniEnergia SpA Announces Agreement with European Utility for Construction of Two Photovoltaic Plants in RSA for Total Installed Capacity of 148.5 MWp

Thursday, 31 Oct 2013 04:03am EDT 

TerniEnergia SpA announced that as part of the process of internationalization of photovoltaic EPC business, has signed two framework agreements with a primary European utility for the construction of industrial size PV plants for the total power capacity of 148.5 MWp in South Africa. In particular, the agreements - become effective following the award of preferred bidder status of the customer - provide for the installation by TerniEnergia Project PTY Ltd, the South African subsidiary of TerniEnergia, of two photovoltaic plants with EPC Contract (turnkey) with the supply of panels and inverters, respectively, in Paleisheuwel for 82.5 MW and in Tom Burke for 66 MW, for a total consideration of approximately ZAR 2 billion corresponding to the current exchange rate to approximately EUR 147 million. The schedule expected to open the work sites by the end of August 2014 and completion by August 2015.