Solita Solar Project to Deliver 30 Million Euro to Investors over
20 years, Expands 2009 Sales Pipeline
BURNABY, BC, Sept. 4 /CNW/ - Day4 Energy today announced the official
launch of its turnkey solar power project business with an agreement to
deliver a 2.5 megawatt (MW) power generation system to be installed by the
company's Italian channel partner Ing Gaeta Sistemi Elettrici SrL. Consisting
of 14,300 advanced Day4 48MC modules, the system is funded and will be
ultimately owned by Day4 Energy's project financing partner CERTUS Life Cycle
AG (CLC) and is located near the town of Sezze about 75 kilometers southeast
of Rome. The 2.5 MW Solita photovoltaic (PV) system will deliver enough
reliable clean electricity to power approximately 1000 Italian homes.
Solita is the largest PV system to feature Day4 Energy's industry leading
products to date and is the first project to be delivered under the terms of
the recent agreement between the company and CLC. With an independently rated
annual output of 3.5 gigawatt hours (GWh), the Solita Solar Power Plant is
expected to generate more than 30 million EUR ($50 million USD) in revenues to
the CLC fund over the course of its first 20 years of operation. The project
further adds to Day4 Energy's existing pipeline of 55 MW contracted product
sales scheduled for delivery in 2009.
"The Solita project is significant for Day4 Energy on many levels:
notably, our successful collaboration with channel and investor partners, the
impressive size of the system, and its strategic location in Italy, a new and
growing market for us," said George Rubin, president of Day4 Energy. "We are
particularly proud to be providing our new finance partners at CLC with an
outstanding return on investment and significant ongoing revenue streams based
on the high performance of our advanced solar energy modules and high-quality
installation work of our system integration channel partners."
"As a channel partner with Day4 Energy since 2007, we have come to expect
that Day4 Energy stands for only the best product and service", says Mario
Gaeta, president of Ing Gaeta Sistemi Elettrici SrL. "We are excited to be a
part of the Solita project which is bound to be the first of many power
generation projects for Day4 and its channel partners."
For the Solita project, Day4 Energy's high-performance solar modules will
be ground-mounted across 55,000 square meters of Italian countryside. Day4
Energy's European project management subsidiary Day4 Systems will coordinate
design and installation. Solita will be financed by German-based CERTUS Life
Cycle AG (CLC) as part of the agreement between Day4 Energy and CLC to deploy
photovoltaic installations throughout Italy and Europe. CLC will operate the
system and sell the power generated on the Italian electricity market.
About Day4 Energy:
Headquartered near Vancouver, British Columbia, Day4 Energy Inc. (TSX:
DFE) designs, manufactures and sells photovoltaic (PV) modules based on its
patented Day4 Electrode technology, a proprietary method of contacting and
interconnecting solar cells that produces PV panels of high power density,
increased lifetime and uncompromised aesthetic appearance. Day4 Energy
partners with the industry's leading PV cell producers to deliver IEC- and
UL-certified commercial and residential solar products to customers throughout
Europe and North America.
About CERTUS Life Cycle AG:
CERTUS Life Cycle AG (CLC) is a German based initiator of private equity
funds. CLC initiates projects via closed funds created and operated within the
legal framework of a German GmbH & Co. KG (SPV's). CLC further obtains equity
investments for these funds mainly from the German private investors. CLC's
offices are located in the city of Freiburg, Germany.
About Ing Gaeta Sistemi Elettrici SrL:
Headquartered in Sabaudia, Italy, Ing Gaeta Sistemi Elettrici SrL is a
solar electric designer and installer focusing on the commercial markets in
the region of Lazio. The company also designs and manufactures dual axis
photovoltaic tracking systems with crystalline and thin film technologies.
For further information:
For further information: Press Contact: Rosalind Jackson, Antenna Group
(for Day4 Energy), (415) 977-1923, email@example.com; Investor
Contact: Cory Pala, (416) 657-2400, CPala@Day4Energy.com