solarhybrid AG
solarhybrid AG: aquires US project pipeline from Solar Millenium AG
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. --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- Language: English Company: Solarhybrid AG Keffelker Straße 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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