Norwegian state-owned energy company Statkraft AS and Solar Utility SpA have signed an agreement to transfer eight solar power projects, with a total of 20 MW in the Italian region of Puglia. An ambition to develop a powerhouse in renewable energy in Italy has been shown with this first transaction.

The agreement was signed at the European Photovoltaic Solar Energy Conference in Hamburg on the 24th of September. With license from Solar Utility, the first phase will be a joint development of photovoltaic plants in Italy, where Statkraft will acquire 20 megawatts of solar power projects initially. There will be an immediate start on creating an EPC contract for the construction of the solar plants.

High solar radiation levels and a strong outlook of the market make Italy a top player in the renewable energy field and this agreement will allow Statkraft to grow faster in the country. On the other hand, Solar Utility will gain an opportunity to strengthen its business as a co-developer of projects with solid industrial partners.