May 17 (Renewables Now) - Verditek Plc (LON:VDTK) has consolidated all of its photovoltaic (PV) assets in Verditek Solar Italy srl, which enables the London-based clean technology company to start refurbishing a PV module factory in Italy.
Verditek said in a statement today that it achieved the full consolidation by taking full control of Greenflex Energy Limited, previously a 51%-owned unit, and then liquidating asset holding firm Greenflex RSM srl. The statement says that all accumulated losses incurred in Greenflex RMS have been forgiven.
Now, Verditek Solar Italy can proceed with refurbishing the Lainate manufacturing facilities and refining the formulation of the company’s lightweight PV modules, Verditek said.
According to Verditek’s website, the particular factory has a start-up capacity comprising two production lines totalling 50 MWp. It produces lightweight panels for use in projects facing challenges in the installation of conventional modules.