S.A.G. Solarstrom AG: bridging loan of €20 million
- Solar Stribro s.r.o. receives a bridging loan of €20 million before the end of 2009
- Conclusion of external financing negotiations expected soon
- Anticipated growth for 2010 confirmed
Freiburg, January 5, 2009. S.A.G. Solarstrom AG (German security identification number: 702100, ISIN: DE0007021008), Freiburg, received a bridging loan of €20 million for their 13.65
MWp photovoltaic project in Stribro (Czech Republic) at the end of 2009 via their project company Solar Stribro s.r.o.. After this bridging loan, which was arranged at short notice by
youmex AG, Frankfurt, S.A.G. Solarstrom AG are also expecting the conclusion of negotiations of long-term final financing of the project, with an investment volume of over
€60 million, in the near future.
The 13.65 MWp photovoltaic system on a former military base in Stribro in the district of Pilsen has been the largest ground-mounted individual photovoltaic project installed in the
Czech Republic to date. "The high quality of our systems and our company’s good reputation has made financing, even of large projects, considerably easier. We therefore did not and do
not need to sell this interesting project at all costs, which to a certain extent is not what the market expects. Instead, we can choose the most attractive economic option without any
time pressure“, explains Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. At the same time, this would improve the chances of definitely achieving the planned growth for 2010. “After
we were able to achieve our goals for 2009, we are anticipating increased sales of between €190 and €210 million for 2010 and a considerably improved EBIT of between €8 and €11
million“, says Kuhlmann.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (WKN: 702 100, ISIN: DE0007021008) of Freiburg, Germany, are a manufacturerindependent 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. 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 energy- and weather-data management, 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 160 specialists work at S.A.G.’s four locations in Germany and subsidiaries in Italy, Spain, Austria, and Switzerland.
S.A.G. Solarstrom AG are listed on the open market, Entry 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
S.A.G. Solarstrom AG
Sasbacher Straße 5
79111 Freiburg
Investor Relations
Veit-Gunnar Schüttrumpf
Tel.: +49-(0)761-4770-368
E-Mail: ir@solarstromag.com
Public Relations
Jutta Lorberg
Tel.: +49-(0)761-4770-311
E-Mail: presse@solarstromag.com