The firm's PV new facilities will generate 17 MW of energy.
Sunflower Sustainable Investments (TASE: SNFL), formerly known as Gilatz, said today that it has signed an agreement for buy the licenses to build 7 solar energy parks in Italy.
The photovoltaic facilities will generate a combined 17 megawatts of power.
Sunflower will pay about €2 million in total for the parks. When the deal is closed, the company will hire a contractor to build the facilities.
The deal was signed by a subsidiary in which Sunflower owns 90%.
The controlling shareholders in Sunflower are Roni Biram and Gil Deutch.
Shares in Sunflower rose 3% by late afternoon trading today.
Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2010
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