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February 7, 2008
Ghent,
Belgium: Enfinity Secures €117 million for Belgian Solar Projects
The
Pension Fund of the Province of East Flanders (Pensioenfonds van
de Provincie Oost-Vlaanderen ofp), the Pharmacists Contingency
Fund (Voorzorgskas voor Apothekers ovv) and the Gemeentelijke
Holding nv are to provide Belgian developer, Enfinity with funding
for solar projects.
The
total investment amounts to €117 million.
Enfinity
will utilize the funding to build solar installations on the roofs
of Belgian buildings in some 15 municipalities over the next two
years. Corporations McBride (60,000 sq m), Willy Naessens, Weba,
BX Textiles, Groep Christophe Desimpel and several others have
already been, or are being fitted with solar systems.
The
total capacity amounts to 22 megawatts or approximately 650,000
sq m of roof area. This is the equivalent of providing 5500 households
with green power.
In
addition to the rate of return, the investors also clearly aim
at the social relevance of sustainable investments in general
and sustainable energy production in particular. A consortium
of banks finances the entire operation.
The
Green Power certificates from the Flemish Government provide the
necessary incentives to carry out this project.
Based
in Ghent, Enfinity is a rapidly developing, ambitious and internationally
operating company in the field of renewable energy. The company
is already active in seven countries, namely Belgium, Italy, Spain,
France, Greece, the US and Canada. This number will increase to
approximately 30 countries by the end of 2009.
Over
the next two years Enfinity has a goal to install approximately
900,000 sq m of solar panels on the roofs of companies with a
total electricity generation capacity of 32 MWp in Belgium alone.
Enfinity hires the roofs of the companies and the companies immediately
buy all energy produced on these roofs so as to avoid transmission
and distribution costs.
Apart
from the "Enfinity1" fund, several other project funds
have been created.
Further details about: Enfinity
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