The solar PV projects total 2.7 MW and have a market value of approximately €870,000 with 1.7 MW to be sold under existing arrangements with SPF Energy and the further 1 MW expected to be sold to another third party.

The consents are part of an ongoing series of solar PV projects located in the Tuscany and Abruzzo regions of Central Italy totalling 24.6 MW.

Acta expects that 21.9 MW of this will be authorised within three or four months. Each solar PV project is expected to be ready for installation work, or for sale, within four to 6 weeks of receiving consent.

The Italian solar PV market

Based on prevailing market rates solar PV planning consents in Italy are currently valued in the region of €250,000-350,000/MW for the project consent alone; and €3.2-3.5 million/MW for completed turnkey installation (EPC) contracts, excluding project consent.

Based upon the development status of Acta’s solar PV project pipeline , the company estimates that applications currently in progress have a potential consent only sales value of approximately €7.5m.

Should all of the current solar PV projects be developed to turnkey sites, the contractible revenues would be expected to have a value of approximately €80m.