Mitsubishi, Innovation Network Buy Italian Solar Power Producer
Mitsubishi bought 50 percent of the power producer, Innovation Network 35 percent and Solar Ventures the rest, the Japanese trading company said in a statement today.
Solar Holding, a unit of Solar Ventures S.R.L., has the capacity to produce 42 megawatts of power across 19 sites in Italy, which are already managed by Solar Ventures.
Mitsubishi will spend 3 billion yen ($31.4 million) and Innovation Network will invest 2 billion yen to buy Solar Holding, The Nikkei newspaper reported today, without saying how it obtained the information.
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