ST. PETERS, Mo. - MEMC Electronics Materials Inc. said Thursday that its solar power subsidiary SunEdison has received final approval from the Italian government to build Europe's largest solar power plant near Rovigo in northeastern Italy.
The 72-megawatt plant is to begin generating power in the second half of the year and be fully operational by the end of the year.
In its first full year of operation, the plant will generate enough power for 17,150 homes. Producing that much energy in other ways could have caused the release of 41,000 tons of carbon dioxide, the equivalent of about 8,000 cars' worth of the gas, the company said.
SunEdison will jointly develop the project with financing from Banco Santander.
Infrastructure construction company Isolux Corsan will help build the plant.
Europe's largest solar-power plant now is a 60-megawatt facility in Olmedilla, Spain.
MEMC shares rose 18 cents, or 1.3 percent, to $13.81 in afternoon trading Thursday.
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