(May 24) The South African Government has announced the winning projects of the second tender for the state incentives under the IPP Procurement Program. The company Solar Capital Dear 3, owned by the JV Moncada Energy Group had presented a solar project in IPP Procurement Program and this was awarded the incentive rate with a solar power project of 94.5 MWp gross (75MW net ). The South African incentive rate has a duration of twenty years and the irradiation rate of the selected areas is about 2000 hours per year. "In this second phase 520 MWp could be awarded and of these together with Solar Capital Group we have been awarded 94.5 Mwp,” stated Salvatore Moncada, CEO and founder of Moncada Energy Group. “This is a project that will involve an investment of around 200 million euro, and in which the epc contractor is Costruzioni Moncada SA. The panels will be entirely supplied by Moncada Solar Equipment, which confirms the potential of the Italian renewable technology sector that could as to be competitive Globally. We intend to give all the impetus necessary for the creation of all possible synergies that will enable the South African technology sector to develop skills that provide employment and social benefit for the country, in line with the requirements of IPP Procurement Program. The incentive of this project represents an important step in the internationalisation strategy of Moncada Energy Group that is looking for new markets to promote its own know-how that has been developed in these years in Italy. The solar potential of South Africa , which with its 2000 hours of sunshine per year is a veritable treasure of solar energy not to be underestimated. Our plant will produce more than 189 TWh per year, which means about 40% more than a similar installed power energy in Italy. Therefore it is an operation that if on one hand allows a large-scale electricity production from a clean source, on the other hand realises in practice the technology transfer advocated by the Kyoto Protocol to enable emerging countries to grow without an increase in global warming. This initiative, despite the difficulties of the Italian market, together with the first bid already awarded, will allow us to maintain the growth reached in these recent years even if this will take place in other markets.” (red)

ABOUT MONCADA ENERGY GROUP

Moncada Energy Group is one of the main private Italian producers of renewable energy. The Group while concentrating mainly on wind energy, is also moving towards solar, biomasses and merchant line, with a portfolio projects of 340 MW. Moncada Energy Group has developed within the group sufficient technology to produce electricity from renewable energy. In the wind sector, the high level of technical expertise of the engineering staff and the nonstop investments in research, have helped to develop and design the first prototype of wind turbine named as 850/58 WPR based on the innovative technology “direct drive”. The advanced technology know-how achieved has allowed the Group to initiate solar panel production-type thin film amorphous silicon.