SunEdison just flipped the switch on a 70-megawatt (MW) solar energy plant in Rovigo, a small town in northeast Italy. The Rovigo plant is currently the largest single photovoltaic (PV) plant in Europe.

Working in partnership with First Reserve, SunEdison will handle the power plant’s operations and maintenance. During its first year of operation, the 276-million Euro solar power project is projected to product enough electricity for 16,500 Italian households. The environmental benefits of the plant are also worth noting — also in its first year, the Rovigo plant will prevent 40,000 tons of CO2 from entering the air. Similar environmental benefits are expected throughout the lifetime of the system.

A host of European banks have backed the project. Unicredit Corporate Banking, Credit Agricole, Natixis, Banco Santander and other leading European banks stepped up in support of the plant. General Manager of SunEdison EMEA Pancho Perez recognized the important role these financial partners played in making the plant possible:

“The deployment of the Rovigo project within this time-frame was made possible thanks to the commitment of our project partners and local and regional authorities. This project is a fine example of SunEdison’s commitment to the continued development of the solar PV sector in Italy and the EMEA.”