SunPower Corp. today announced that it has completed the sale of its 44 MW Montalto di Castro solar park to a consortium of international investors that include MetLife, Fondo PPP Italia and Voigt & Collegen. SunPower designed and built the solar power plant and will provide ongoing operations and maintenance services for the new owners. Barclays Capital advised MetLife on this transaction.
“With the sale of this power plant now completed, we have met the goal of developing, constructing and monetizing 72 MW from the Montalto di Castro solar park,” said Dennis Arriola, SunPower chief financial officer. “We are proud of this accomplishment and recognize the dedicated team and various independent parties that helped to deliver this successful outcome.”
The Montalto di Castro solar park, developed by SunPower, is located in the Lazio region of Italy near Rome, where the 20 MW first phase was connected to the grid in November 2009, several weeks ahead of schedule. The 8 MW second phase was commissioned earlier this fall, and the third and fourth phases, totaling 44 MW, were completed earlier this month. SunPower financed the development and construction of the 44 MW with proceeds from the solar industry’s first-of-its-kind solar bond.