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Statkraft sells solar project subsidiary to Innotech Solar

Statkraft is selling its solar project company RA 2 S.r.l. to ITS Power AG, a daughter company of Norwegian solar company Innotech Solar AS.

RA 2 was established in 2007 as a project development vehicle. RA 2 owns the 3.3 MWp Borgo solar project under development in the municipality of Latina, Italy.

The solar project has obtained grid connection from ENEL, and Innotech Solar is expecting the project to be fully permitted by 2011.

"Innotech Solar sees Italy as one of the most promising countries for solar power in 2011, and taking over the Borgo project give a flying start in this market.," says Robert Kröni, EVP Power plants.

The sale of RA 2 follows the Statkraft decision in June 2010 to focus its strategy on the core businesses of hydropower, wind power, gas power and district heating.

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Photovoltaics (PV)  •  Solar electricity