Enel Green Power, Sharp and STMicroelectronics signed a binding letter of commitment to develop a solar PV panel factory in Italy with 160 MW of annual production capacity, in Catania, Sicily. This is to be Italy's largest such facility once completed.

The three companies have this way activated their joint venture, called 3Sun, which will be equally owned between the companies. 3Sun will now very soon begin operations at the Catania factory. The factory represents a EUR 150 million investment, partly financed by Italian Joint Ministerial Committee for Economic Planning (CIPE). Even though the initial capacity will be 160 MW annually, there are plans to gradually increase this capacity to about 480 MW annually in the coming years. The factory will supply the European, Middle East and African solar markets with PV panels, with particular focus put on the Mediterranean region.

Enel Green Power and Sharp have created anouther JV separately, which will deal with construction and management of solar farms in the Mediterranean region, with plans to install and operate as much as 500 MW of solar capacity by 2016. The JV is called Enel Green Power & Sharp Solar Energy (ESSE). This concides with the previously announced plans by Sharp to expand its solar energy business to include solar power generation.

[source: Enel Green Power]