SunEdison, a division of MEMC Electronic Materials, Inc. (NYSE: WFR), received final approval from the Italian government to develop and construct a 72 megawatts (MW) photovoltaic solar power plant in Northeastern Italy, near the town of Rovigo.
When completed, this is expected to be the largest photovoltaic (PV) solar power plant in Europe.
Power generation will begin in the second half of 2010 with final completion expected by year end.
SunEdison will jointly develop the project with financing partner Banco Santander (NYSE: STD). Additional financial partners are expected to join the project for final ownership.
Isolux Corsán, a large-scale infrastructure construction company, will build the poser plant.
Currently, the largest facility is a 60MW solar farm in Olmedilla, Spain, followed by a 50 MW in Strasskirchen, Germany, built by MEMC through a joint venture agreement.
