Capital Renewables S.A. (Capital), has awarded the contract for the supply of equipment, project design, construction and set in operation of a 4,13 MWp photovoltaic park in Greece (Prefecture of Argolida), to the EPC Contractor Positive Energy. This project constitutes a substantial investment in the photovoltaic sector for the Balkan region. The Spanish manufacturer Solaria Energía y Medio Ambiente has been appointed as the module supplier, and the park will be built using Solaria’s 2nd generation polycrystalline high yield photovoltaic panels. The project will commence in the second quarter of 2011 and is expected to be commissioned in the fourth quarter of the same year. The operation of the plant will have substantial environmental benefits including the reduction of carbon dioxide emissions by 6.300 tons per year. This is the same amount of carbon dioxide that would be removed from the atmosphere each year by a forest of 300.000 trees via photosynthesis. It is estimated that the park will produce over 6.200.000 kWh per annum. The Project is to be financed by EFG Eurobank Ergasias.
On behalf of Capital, Mr. Jerry Kalogiratos, CEO of the company stated: “We are very pleased to moving ahead with the first phase of our investment plan with this critical project in the field of renewable energy sources which will be developed in cooperation with one of the most reputable EPC contractors in Greece. We have a big investment plan that we are looking forward to implement in Greece through the development of strategic partnerships.”
