SOLAR UTILITY (PIRELLI AMBIENTE) AND STATKRAFT, A PARTNER FOR SOLAR ENERGY

Solar Utility SpA, one of the company of Pirelli Ambiente, specialised in the production of electrical energy from photovoltaic plants, has signed an agreement with the Norwegian energy company Statkraft, which consists in developing and transferring eight photovoltaic projects in the Region of Puglia, for a capacity of almost 20 MW. Both parties have shown their willingness to play a major role within the scope of renewable energy in Italy.
The agreement was signed on September 25th during the 24th European Photovoltaic Solar Energy Conference in Hamburg. The first phase of the agreement consists in a joint development of photovoltaic plants in Italy, in which Statkraft shall initially purchase solar energy projects from Solar Utility with a licence for about 20 megawatt. The projects required to settle an EPC “turnkey” contract for the construction of solar plants shall start immediately.
This agreement will enable Statkraft to grow very quickly in Italy, as it is an interesting market for renewable energy producers thanks to the presence of high solar irradiation throughout Italy. This is an opportunity for Solar Utility to strengthen its own business as a project co-developer with a solid industrial partner.

PEERS & MARKETS

The markets saw profit taking on week 21-25 of September.  Major European markets reported losses with sales mainly in the cyclic sector as well as in the Auto & Parts, construction and oil industry sector (all dropped by more than 3%).
Following the market rally over the past few weeks (+17% from September 1st to September18th), Pirelli & C finishes the week at € 0.359, a 4.9% decrease. The stock was upgraded on average by 9 cents; Intermonte (buy rating at €0.46 from €0.37), Deustche Bank (Buy at €0.40 from €0.34), UBS (Neutral at €0.38 from €0.28), Kepler (Reduce at €0.31 from €0.22). This upside is mostly linked to a reassessment of the tyre business and to a lower impact on corporate costs in the Group’s net asset value.
Pirelli RE finishes the week with -4.4% (€0.639) lagging behind the European real estate sector by about one percentage point.

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PZERO: MORE HIGH-TECH EVEN ON THE WEB

Pirelli PZERO’s website has a completely new graphic design; the black background site shows the best industrial and high tech spirit of Pirelli’s Industrial Design plan. Extremely easy to surf: offering the chance to zoom-in and have a 360° rotation so that each product can be viewed down to the slightest detail and even have a “put on” view of the garment, giving a complete idea of the outwear and its wearability. The sales outlets section is also easy to use and the locations can be easily found on a map. The online store accessed directly though a link, soon offering the chance to purchase not only bags and footwear but also skis and watches.