Day4 Energy Announces First 1MW Solar Installation in Pisa, Italy
By Day4 Energy Inc., PRNETuesday, November 16, 2010
Project Signifies Day4 Energy's Growing Market Acceptance in the Increasingly Important Italian Market for Advanced Solar Modules
BURNABY, British Columbia, November 17, 2010 - Day4 Energy Inc. (TSX: DFE), a leading global provider of solar
photovoltaic (PV) products and solutions, announces an agreement with Orciano
Ambiente Srl., a leading Italian solar project developer, to provide its
60-MCI Day4 solarMODULES for the first 1MW ground-mounted solar photovoltaic
system to be installed in the town of Orciano Pisano, Italy.
Euro Sistem Srl., a leading Engineering, Procurement and Construction
(EPC) firm for PV systems, is scheduled to complete the 1MW solar project by
December 2010. The project is expected to be fully commissioned and
operational by February 2011.
"As a leading European market for solar PV installations, Italy is
projected to add roughly 1,000 megawatts of capacity each year over the next
three years." says Riccardo Felicioli, Senior Project Consultant. "And Day4's
participation in large-scale projects such as this one confirms the continued
acceptance of their advanced solar modules in a rapidly growing market."
The announcement also marks Day4 solarMODULES achieving bankability
status in the Italian market from the project's lending institution,
Unicredit Leasing ("Unicredit"), one of the most reputable and active
institutions for the leasing and project financing of large-scale solar
installations in Italy. Unicredit was awarded "Italian Lessor of the Year
2010" at the Leasing Life Asset Finance Awards on November 10, 2010.
"Achieving bankability from one of Italy's most respected financial
institutions solidifies Day4's position as a valued provider of advanced
solar technology and emphasizes the high quality, durability and superior
performance of our solarMODULES for large-scale projects throughout Europe."
says Luigi Fusi, Director of Sales and Corporate Development for Southern
Europe.
"This project clearly demonstrates our efforts and progress to becoming a
primary provider of solar solutions for the Italian market, and will be of
significant benefit to our solarSYSTEMS manufacturing partners" concludes Mr.
George Rubin, President of Day4 Energy.
Bankability is a term used by financial institutions as to whether the
technology and products are seen as acceptable, dependable and reliable in
terms of the overall investment by the lending group. When determining
bankability for solar energy project funding, financiers seek the lowest risk
on the many variables present, which include product quality, completion
likelihood, off-taker (power purchaser) credit worthiness, project model
quality, and environmental factors.
About Day4 Energy
Headquartered in Vancouver, Canada, Day4 Energy is a leading global
provider of solar photovoltaic products and solutions. Active in the areas of
research & design, manufacturing, technology licensing and all aspects of
project management, Day4 Energy is enabling the growth of solar energy
throughout the world. Day4 is listed on the Toronto Stock Exchange under the
symbol "DFE". Day4 Energy conducts business in Italy under its wholly owned
subsidiary, Day4 Italia. For more information, please visit
www.day4energy.com.
About Day4 solarSYSTEMS
An industry first, Day4 solarSYSTEMS is a program that enables businesses
to manufacture, distribute and sell certified DAY4 branded solarMODULES in
their local region. It's a revolutionary approach - a turnkey manufacturing
package that allows participants to swiftly establish a production facility
and generate revenue growth. Launched in early 2010, Day4 solarSYSTEMS is a
turnkey manufacturing program to expand the supply and market penetration of
Day4 branded solar modules and increase the worldwide adoption of solar. To
learn more, please visit www.day4solarsystems.com
Forward Looking Statements
This news release contains forward-looking information. These statements
relate to future events or future performance and reflect management's
current expectations and assumptions. A number of factors could cause actual
events, performance or results to differ materially from the events,
performance and results discussed in the forward-looking statements. These
forward-looking statements are made as of the date hereof and the Company
does not assume any obligation to update or revise them to reflect new events
or circumstances.
%SEDAR: 00026066E
For further information: Investor Relations Contact Therese Hayes Head, Corporate Development Day4 Energy Inc. +1(604)345-6771 thayes@day4energy.com Media and Public Relations Contact Justin K Lacey Director, Marketing Day4 Energy Inc. +1(604)296-0449 jlacey@day4energy.com
Investor Relations Contact: Therese Hayes, Head, Corporate Development, Day4 Energy Inc.,
+1(604)345-6771, thayes at day4energy.com; Media and Public Relations Contact, Justin K Lacey
Director, Marketing, Day4 Energy Inc., +1(604)296-0449, jlacey at day4energy.com
Tags: British columbia, Burnaby, Day4 Energy Inc., Italy, November 17