U.S. project pipeline: solarhybrid intends to involve First Solar as a partner
Erlangen, 16 November 2011 Solarhybrid AG intends to involve the world’s largest module manufacturer First Solar as a partner in the planned takeover of Solar Millennium AG’s U.S. project pipeline. On Wednesday, at a press conference in Berlin, Tom Schröder, the CEO of solarhybrid said that the company was planning to enter into a joint venture with First Solar to equip the Californian project locations of Blythe (1000 megawatts) and Palen (500 megawatts) with the photovoltaic technology of First Solar, if the transaction with Solar Millennium is realized. Schröder added that he expects to finalize negotiations with Solar Millennium around the end of November.
Since late summer, Solar Millennium and solarhybrid have been negotiating the sale of Solar Millennium’s project pipeline in the southwest of the U.S. with a total capacity of 2250 megawatts. In the course of such a transaction, Solar Millennium would still participate in the financial results from the realization of the planned solar power plants.
About Solar Millennium AG:
Solar Millennium AG (ISIN DE0007218406), Erlangen, is a company that operates globally in the renewable energy sector, with its main focus on solar power plants. Together with its subsidiaries and associates, the Company specializes in solar-thermal power plants, particularly parabolic trough plants, and has taken a global leadership position in this field.
Solar Millennium is striving to further extend its expertise in this area with the aim of achieving and securing sustainable technology leadership. The Company covers all important business sectors along the value chain for solar power plants: from project development and financing to technology and the turnkey construction and operation of power plants. Solar Millennium realized Europe’s first parabolic trough power plants in Spain as well as the first modern parabolic trough solar field in Egypt. Additional projects are planned around the world: The current regional focus is on Spain, the Middle East and North Africa.
About 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
solarhybrid capital management 100% subsidiary of solarhybrid AG arranges project finance, investment structures and sales. A track record of more than 267 MWp of projects under construction or in operation confirm solarhybrid‘s technical, organizational, and financial expertise. Projects in excess of 123 MWp capacity will be contracted shortly. Solarhybrid’s project pipeline comprises a total capacity of 2.5 GWp. The offices of solarhybrid in Germany are in Brilon, Hamburg, Frankfurt, international offices are in Italy, Middle East, and US. The shares of solarhybrid are traded in the open market at Frankfurt stock exchange. Further information on solarhybrid AG can be obtained on the internet at www.solarhybrid.ag
About First Solar Inc.:
First Solar is a world leader in the manufacture of photovoltaic (PV) solar modules, and a premier provider of comprehensive PV solar systems. By enabling clean, renewable electricity at competitive prices, First Solar provides an economically and environmentally viable alternative to peaking fossil-fuel electricity generation.
First Solar has set the benchmark for environmentally responsible product life cycle management by introducing the industry’s first prefunded, comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating value-driven renewable energy solutions that protect and enhance the environment.