3Power Energy said the solar plants are located in several high sun radiations regions in Italy. The total investment in the projects valued around USD500 million out of which USD400 million is financed by long term banks credit facility.
The solar power projects when acquired will be an immediate source of 15 years sustainable revenues under a power purchase agreement at prefixed price.
3Power said it continues to complete its target capacity of 3GW projects pipeline. The company plans to finance its equity in the projects through placements from selected investors.
3Power to acquire 100MW PV solar power plants in Italy
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