The agreement signed between Fotowatio Renewable Ventures (FRV) and BP Solar commits itself to both companies for the construction and operation of various solar photovoltaic plants in Italy with a total capacity of 37.1 MW. FRV will invest 125 million euros.

BP Solar is responsible for the construction and FRV plant will own and operate the plants. Facilities are expected to become operational during 2010. The realization of these projects will create 200 jobs during the construction and 15 jobs during the operation phase. The plants avoid the emission into the atmosphere of 60,000 tons of CO2.

“In this way”, says Andrea Fontana, country manager of cardiovascular risk factors in Italy, “FRV consolidates its presence in Italy with this new agreement, in addition to the five plants of 1 MW built in the region and the 10 MW currently under construction in Lazio. Through this transaction, we combine our promotional and financial capacity, and our experience in the project management with BP Solar industrial capacity.”

“The agreement with FRV strengthens BP Solar photovoltaic business in Italy,” says Gianni Chianetta, country manager for BP Solar in Italy. “These 37.1 MW in addition to the eight that we built in 2009 and the 11 MW that we plan to complete in the first half of this year. Building strong relationships with companies such as RVF, is part of BP Solar’s strategy, enabling us to reach a record of 1 GW all over the world, with plants for residential, commercial and public services.”

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