Solarhybrid AG / Key word(s): Miscellaneous
03.02.2012 23:12
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc-Release according to § 15 Abs. 1 WpHG - solarhybrid AG aquires US
project pipeline from Solar Millenium AG
solarhybrid AG announces that it has reached an agreement with Solar
Millenium AG regarding the acquisition of the two project holding companies
Solar Millennium Capital GmbH and SM USA 2 GmbH. The acquisition of the two
companies transfers Solar Millennium's entire project pipeline for solar
power plants in the southwest of the United States with a total capacity of
2.25 gigawatts to solarhybrid. This includes the 70 percent stake in Solar
Trust of America LLC. All intercompany loans and other receivables from
Solar Millennium AG to its US subsidiaries were also acquired.
The purchase agreement is subject to the condition precedent that
solarhybrid will replace letters of credit, which Solar Millennium granted
in association with the US projects, by 31 March 2012.
The companies have agreed to keep the purchase price confidential. Payment
is linked to the achievement of certain milestones, particularly to the
conclusion of power purchase agreements. Solar Millennium will receive an
additional deferred payment, if individual projects from the US power plant
pipeline are resold. However, the power plants do not have to be realised
by solarhybrid.
The supervisory board of solarhybrid and the interim insolvency
administrator of Solar Millenium have approved the agreement.
About solarhybrid AG:
solarhybrid AG is project developer and general contractor for turn-key
photovoltaic power projects at utility scale. The company offers the
following services:
> Project development and co-development
> Financing and structuring > Sale to investors
> Engineering, procurement, and construction services (EPC contracting)
> Operation and Maintenance (O&M)
Project financing, structuring and marketing are all carried out by
solarhybrid capital management GmbH, a wholly owned subsidiary of
solarhybrid AG. A list of references with a total capacity of 266 megawatts
(both completed and commissioned projects) is proof of the company's
expertise in technical, organizational and financial project management in
2010 (48 MWp) and in 2011 (218 MWp). For the year 2012 a project pipeline
exists in the countries of Germany and Italy with a total capacity of 323
MWp. Further projects in Germany, Italy, South and North Africa, Israel and
the USA are in negotiation. solarhybrid focuses on a strategy of 'growth
through project size, not by the number of projects.' In 2010, the average
project size was 7 MWp and 20 MWp in 2011 already.
The company is run from its locations in Hamburg, Frankfurt and Brilon. In
addition to the- se, there are also local companies in Italy, the Middle
East and the United States. Company shares are traded on the General
Standard of the Frankfurt Stock Exchange.
Contact
solarhybrid AG Albert Klein CFO Tel.: +49 (0) 2961 / 9 66 46 - 0
akk@solarhybrid.ag
Administration, Purchasing and Project Development (Headquarters)
solarhybrid AG
Keffelker Str. 14 59929 Brilon, Germany
Engineering and Project Management solarhybrid AG Zirkusweg 2 20359
Hamburg, Germany
Structuring, Financing and Sales solar hybrid capital management GmbH
OpernTurm, 16. Floor 60306 Frankfurt, Germany
Ad Hoc News
Contact:
solarhybrid AG
Albert Klein CFO
Phone: +49 (0) 2961 / 9 66 46 - 0
akk@solarhybrid.ag
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Phone: +49 (0) 69 / 90 55 05-51
solarhybrid@edicto.de
03.02.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Solarhybrid AG
Keffelker StraÃe 14
59929 Brilon
Germany
Phone: +49 (0)2961 966 460
Fax: +49 (0)2961 966 46 66
E-mail: ir@solarhybrid.de
Internet: www.solarhybrid.ag
ISIN: DE000A0LR456
WKN: A0LR45
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin
End of Announcement DGAP News-Service
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DGAP-Adhoc: solarhybrid AG: aquires US project pipeline from Solar Millenium AG
| Source: EQS Group AG