News Article
ET Solar Builds 50MW Solar PV Projects in Romania
ET Solar Group has announces that they have been awarded to build various PV plants in Romania totalling 50MW for Tinmar-Ind S.A. ("Tinmar"), one of the top Romanian power supplier and energy trading companies.
These plants are located in three counties in Southern Romania, Gorj, Giurgiu and Dolj. Over 20MW are now under construction and expected to be largely completed before the end of 2012. The grid connection and electricity feed-in is expected to take place in the first quarter of 2013. The remaining 30MW are currently under planning with the construction to start before the end of this year.
Under the agreement between ET Solar and Tinmar, ET Solar acts as the exclusive PV module supplier, and ET Solutions AG, the German subsidiary of ET Solar, provides engineering, procurement and construction and construction financing. Operations & maintenance services for these plants will also be provided by ET Solar.
Mr. Dennis She, President and CEO of ET Solar, commented: "This award represents a major achievement for our system business in the emerging markets. With years of experience we acquired in Germany and Italy, we are well positioned to offer these markets high quality and cost effective EPC solutions."
Mr. Augustin Oancea, CEO of Tinmar, added: "We are very pleased to collaborate with ET Solar as our strategic partner for these projects. ET Solar has demonstrated to be a true one-stop solution provider given its strong ability to provide high quality module products, innovative turnkey solutions and tailor-made financing arrangement."
ET Solar established a Romanian subsidiary in Bucharest this July.
