TerniEnergia to double solar capacity Q1 '10

MILAN, ITALY: Italian renewable energy company TerniEnergia aims to nearly double its installed solar capacity to 48 megawatt (MW) by the end of March 2010 with three acquisitions and other projects, it said on Thursday.

TerniEnergia said in a statement it has bought three unlisted companies to implement 15 photovoltaic (PV) plants of industrial size in the southern Italian region of Puglia.

TerniEnergia, with an insalled PV capacity of 25 MW peak at the end of June, said it expected to complete the projects with a total capacity of 13 MW in the first quarter of next year.

It planned to add another 10 MW of capacity by the end of this month with completion of nine other PV installations.

PV energy which turns sunlight into power took off in Italy after the government approved incentives in 2007, among the most generous in Europe. Investors ranging from families to banks and from utilities to sports car maker Ferrari have piled in the sector.