DGAP-News: S.A.G. Solarstrom AG / Key word(s): Miscellaneous S.A.G. Solarstrom AG extends power plant portfolio by 1.45 MWp from Italian projects 08.02.2011 / 13:11 --------------------------------------------------------------------- S.A.G. Solarstrom AG extends power plant portfolio by 1.45 MWp from Italian projects - Sale of two project companies concluded in Apulia, Italy - S.A.G. Solarstrom retains share of 15%, power plant portfolio increases to 20 MWp - Influx of cash and cash equivalents in the amount of EUR41 million in Q1 Freiburg, 02/08/2011. S.A.G. Solarstrom AG (German international security identification number: 702 100, ISIN: DE0007021008) has concluded the sale of the two project companies Energia Rinnovabile S.r.l. (4.995 MWp) and Energy Power S.r.l. (4.7064 MWp) in Apulia, Italy, on schedule. The Japanese investor Sumitomo Corporation acquired 85% of the two project companies. S.A.G. Solarstrom AG will receive cash and cash equivalents in the amount of EUR41 million from the sale in the first quarter. Both projects were completed at the end of 2010 and have already been recorded in the financial statements of 2009 and 2010 with regard to construction progress. S.A.G. Solarstrom AG is expanding their own power plant portfolio with a minority shareholding of 15% in the projects, which corresponds to around 1.45 MWp. This increases S.A.G. Solarstrom AG's power plant portfolio to 20 MWp. 'Apulia has a specific solar irradiation of 1,460 kWh/kWp. Both projects benefit from the attractive 2010 feed-in tariff, while exhibiting an excellent overall performance. We therefore decided to retain 15% of the two project companies', says Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. The sale of the project companies to the Sumitomo Corporation was completed on schedule. From the purchase price of around EUR42 million, payment of which was subject to a final expert's report and performance tests, S.A.G. Solarstrom AG will now receive EUR41 million in cash and cash equivalents in the first quarter of 2011. The two projects were already recorded in the financial statements of 2009 and 2010 with regard to construction progress. 'We are pleased that the final expert's report and the tests substantiated the quality of the projects and that we were able to successfully conclude the sale as a result', says Kuhlmann. 'We can now use these funds to push ahead with our major project of 48 MWp in the Venice region as planned, but at the same time have secured a part of these very interesting projects for our own power plant portfolio. We want to continue to expand this portfolio over the next few years'. About S.A.G. Solarstrom AG S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN:DE0007021008) of Freiburg i.Br., Germany, are a manufacturer-independent provider of high-quality photovoltaic plants configured to customers' individual needs. The group constructs efficient plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produce solar energy at their own plants. S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of photovoltaic plants, including forecast and energy services, yield reports,and remote maintenance, as well as insurance and financing. The group thus offers a comprehensive value chain in photovoltaics, from yield reports, planning, construction, operations, and monitoring to optimization, repowering, and deconstruction. Founded in 1998, S.A.G. Solarstrom AG are considered pioneers in the solar industry. Around 190 specialists work at the four locations in Germany and the foreign subsidiaries. S.A.G. Solarstrom AG are listed in the General Standard of the Frankfurt Stock Exchange as well as according to the rules and standards M:access of the Munich Stock Exchange. Further information: www.solarstromag.com Contact: S.A.G. Solarstrom AG Sasbacher StraÃe 5 79111 Freiburg Germany www.solarstromag.com Public Relations / Investor Relations Jutta Lorberg phone: +49-(0)761-4770-311 e-mail: pr@solarstromag.com / ir@solarstromag.com End of Corporate News --------------------------------------------------------------------- 08.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: S.A.G. Solarstrom AG Sasbacher Str. 5 79111 Freiburg Deutschland Phone: + 49 761 4770 0 Fax: + 49 761 4770 555 E-mail: mail@solarstromag.com Internet: www.solarstromag.com ISIN: DE0007021008 WKN: 702100 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München (m:access), Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 111462 08.02.2011
DGAP-News: S.A.G. Solarstrom AG extends power plant portfolio by 1.45 MWp from Italian projects
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