Turkish companies Naturel Enerji and KURTEKS Tekstil Enerji signed an agreement for the development and construction of a 50-megawatt solar power plant in Italy, Naturel energy said in a statement on Tuesday.

The total value of the contract is 45 million euros ($51 million), excluding VAT (value-added tax), with Naturel Enerji providing project funding.

The companies will undertake project development, engineering, procurement, construction (EPC) and a power purchase agreement (PPA) on a turnkey basis.

According to the statement, the project is considered one of the biggest in Italy and Europe and is unique for Turkish Investors and EPC contractors in terms of its size, characteristics, location and context.

The plant will be built on solar tracker systems, and the electricity produced will be sold through PPAs to private consumers.