January 25, 2010

Freiburg, Germany: S.A.G. Solarstrom Concludes Financing for 4.6 MW PV System

Freiburg based, S.A.G. Solarstrom AG has now included a 4.6 MWp system the company installed on the roof of the Dehner Garden Center in Rain am Lech in their own financing portfolio and concluded an 18-year financing transaction for €10 million with the Deutsche Bank AG for the associated investment of €14 million.

The roof-top system, consisting of First Solar thin-film modules, will thus strengthen S.A.G. Solarstrom's business of Power Production and provide an attractive contribution to operating income.

“This system will have a long-lasting, strengthening effect on the business area of Power Production“, says Dr. Kuhlmann, CEO of S.A.G. Solarstrom AG.

The financing, which was concluded quickly and on a straightforward basis with funds provided by the Reconstruction Loan Corporation from their Renewable Energies program, which the company says once again highlights the positive reputation S.A.G. Solarstrom AG enjoys with banks.

“We were able to negotiate an attractive interest rate for the financing,“ explains Christoph Koch, CFO of the solar company. "As a result of both this outcome and the high performance capability of the system, attractive returns will be achieved."

Further details about: S.A.G. Solarstrom AG