FRV will invest €125 million and will own and operate the solar PV power plants built by BP Solar, and which are expected to be completed by the end of the year.

“This deal adds to the five 1 MW solar plants we have already built in the region and to the 10 MW site we have started building in Lazio, and helps us expand in Italy,” says Andrea Fontana, Country Manager of FRV in Italy. “The agreement combines our ability in structured finance and project management with BP Solar’s industrial capabilities.”

“This agreement strengthens BP Solar’s photovoltaic business in Italy, a solar market we consider globally strategic,” adds Gianni Chianetta, Managing Director of BP Solar Italia.

“These latest projects add to the 8 MW we built in 2009, and to the 11 MW that are scheduled to be completed in the first 6 months of 2010. Partnering with reliable companies such as FRV is a core BP strategy that has allowed us to develop 1 GW of solar projects last year, with residential, commercial and large scale plants.”