TOPIC 'Solar Energy' on Jun 03, 2009 (CEST)
SolarTec International AG – Entry of investor finally determined
Aschheim, 20.05.2009 – Photovoltaics company SolarTec International AG is being bought out of the SolarTec group by an international investor. Following the agreement of the creditor´s meeting of SolarTec AG the takeover now has also found legal consent.
After the insolvency of SolarTec AG by the End of 2008, the question about the future of the attractive core business-areas of PV-power-plants and concentrating-photovoltaics (CPV) was open. In February a Europe wide active technology investor expressed serious interest in continuing and expanding both business areas.
On May 14, 2009 the creditor´s meeting finally agreed to selling SolarTec International AG and both core business-areas of SolarTec AG, including important assets.
With the now legally effective takeover agreement as well as agreed financial funds, the start of SolarTec International AG is secured now!
In July, the start of construction of a 8 MW-PV-power-plant is scheduled, which shall be connected to the German grid already in 2009. Further solar parks are already under planning.
In focus of the project activities of SolarTec International AG are power plants in high-yield regions in Europe, Asia/India, USA and Africa.
The business division of concentrating photovoltaics (CPV) will push the development of an innovative solar technology. It aims at the commercial use of CPV-systems with yields of more than 35% thus topping commercially available technologies by far. Also the continuation of the partnership of SolarTec International AG within the EU-Project APOLLON has been secured by the acquisition agreement.
SolarTec International AG is the photovoltaics company for economically efficient and sustainable pv- solutions.
Contact:
Roland Hacker
Head of Marketing & Sales
SolarTec International AG
Tel. +49 / (0) 89 - 90 77 49 97-13
Fax +49 / (0) 89 - 90 77 49 97-69
Mail: pr@solartec-ag.com
