According to the company, construction on the German PV installation will begin immediately, and will be connected to the public grid by the end of the year.
S.A.G. will set up the system as general contractor, while the town of Spaichingen will lease the 3.2 hectare site to the future investor of the installation. Several purchase inquiries have reportedly already been received for the project.
Debenture bonds planned
In other news, the company has said it is planning to issue debenture bonds in several tranches up to a maximum total nominal amount of 200 million.
It explained that the base prospectus required for the public offer of the debenture bonds is expected to be approved today by the Federal Financial Supervisory Authority.
In the event of approval, the company has said it will publish the final conditions of the offer designated for positioning of an initial tranche of partial debentures on their web site on Monday, November 22. The subscription period and the placement of the bond by way of the public offer will then commence on Thursday, November 25.