California-based Premier Power Renewable Energy has acquired Italy’sArco Energy, a privately held solar project developer, EPC anddistributor with more than 20MWof permitted projects worthapproximately $114 million in potential revenue.
Premier Power expects Arco’s projects to begin generating substantial revenue growth in the second half of this year.
The acquisition gives the U.S. company access to Italy’s solarmarket, which is expected to grow from 325MW in 2008 to 3,000MW in 2016.
“While many European developers talk about projects in Italy, ArcoEnergy has proven it has the local market knowledge and expertise inthis emerging market necessary to execute. Arco has installed projectsin both the Northern and Southern regions of Italy, as well as thehighly coveted Sicilian market,” said Miguel de Anquin, Premier PowerCOO.
Arco Energy is also a distributor for Canadian Solar and Suntechmodules, as well as Solar Max and Power One invertors and other balanceof systems components.