Polaris Energy, a Luxembourg-based private equity company operating in Italy, has decided to focus on acquiring already constructed solar power plants in response to the recently modified 2011 Feed-in Tariff rates in Italy.
The government in Italy, the #2 largest photovoltaic market in the world,recently added some clarity to the direction of the Italian photovoltaic market for the near future. As oil prices continue to rise - and the recent tsunami in Japan has slowed nuclear energy development - Italy has passed legislation to extend their Feed-in Tariff program for solar energy (ContoEnergia) through 2012.
The Feed-in Tariff scheme for photovoltaics will start to slowly decrease each month, starting in June 2011. While there are still ample opportunities to acquire licenses and construct projects, the Feed-in Tariff change has presented a large selection of already constructed plants that are currently on the market for acquisition. The new set of circumstances presents very attractive investment opportunities for investors ready to invest in the world-class Italian photovoltaic market, as start-up and construction risks have been eliminated.
Polaris is positioned at the forefront of the Italian photovoltaic market with offices in Milan and operations throughout Italy. The announcement of the new Feed-in Tariff rates have increased Polaris' interest on investments with mitigated risk and high returns. Polaris is developing new opportunities in constructed power plants on ground, rooftops, and greenhouses - ready for acquisition - and has access to a large portfolio of projects with equity IRRs between approximately 15% - 23%. Polaris' unique business model allows investors of any size to participate: institutional groups can acquire wholly completed plants outright and private individuals can obtain direct ownership in a constructed plant with a minimum investment of 25.000 EUR.
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