Enertronica set up its subsidiary in the United States and strengthens its position in America. The company signes its first Engineering contract in the USA for a 50MW project
Enertronica, a renewable energy company, combining energy-saving, design and production of electromechanical devices, announces the opening of its subsidiary in the United States and plans to start a new business line for the company in the renewable energy sector. The NewCo, Enertronica Inc, a wholly owned subsidiary of Enertronica Spa established under Delaware state law, will have its headquarters in Massachusetts and Nevada.
While setting up its subsidiary, Enertronica signed an important contract for the engineering of two PV plants with a total 50 MW capacity, which will be carried out between 2017 and 2018. Full EPC contract supply will be provided by both Enertronica Spa and its subsidiary Elettronica Santerno. The agreement is worth about 500kUSD and it will be completed in 2017.
Most likely, following to the subscription of the Engineering contract, the Group will be also involved in the construction of the two photovoltaic plants too.
With the opening of its subsidiary, Enertronica Group confirms its presence in the USA. For many years now Elettronica Santerno has been operating in the United States through its California-based subsidiary, Santerno Inc, which is already engaged in two relevant contracts: one regarding O&M services for 270MW in California, the second regarding the supply of 8 MVA photovoltaic inverters in Minnesota. Both contracts have already been published in order to fulfill the Stock Exchange disclosure requirements.
Vito Nardi, Chairman and CEO of Enertronica Spa, commented: “The Group is fully achieving its goals in the US market, not only by setting a new subsidiary up, but also by underwriting a highly strategic contract in the region. Following such steps, the Group’s presence in the US is now significant, and proves its ability to meet growth plans and market’s expectations. From now on, targets will be higherr and more ambitious but we are fully confident about our ability to fulfil them”.