S.A.G. Solarstrom successfully concludes sale

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The company announced that it has concluded the sales process of the North Italian project to BNP Paribas Clean Energy Partners pursuant to a sale agreement signed on December 31, 2011.

The purchase value is said to be in the three-digit million Euro range and was paid on Friday last week. The transfer of the project company’s shares to BNP Paribas Clean Energy Partners has been certified by notary.

S.A.G. Solarstrom stated that it will receive liquid funds totalling over €50 million after the settlement of payables and repayment of the project bridging loan granted by Deutsche Bank Group.