Solarstrom has reached no agreement with an international energy company
The project pipeline will not be implemented
Ad Hoc Notification According to § 15 of the German Securities Trading Act
S.A.G. Solarstrom AG: project pipeline will not be implemented
Freiburg i. Br., December 5, 2013. S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008), Freiburg i. Br., has not reached an agreement in the conclusive contract negotiations with an international energy company regarding the implementation of a project pipeline in the three-digit MWp range for 2013 and 2014. In S.A.G. Solarstrom AG’s opinion, the negotiations have thus failed. This was due to the financial deposits required for these projects from S.A.G. Solarstrom AG in the form of down payment and performance bonds before the start of the projects as well as warranty guarantees after completion of the projects.
S.A.G. Solarstrom AG will critically review the business area Plant Construction in the face of this result. The guarantees and warranties which are increasingly required on the market can amount to payments of up to 20% of the project volume before the start of the project and up to 10% after completion of the project, representing a disproportionately high capital commitment for the company. In many projects, this capital commitment is no longer proportionate to the achievable margin, taking into account the risks of large-scale projects.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent provider of photovoltaic plants configured to customers’ individual needs. The Group constructs plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at its own plants.
S.A.G. Solarstrom AG’s service portfolio covers the entire life cycle of photovoltaic plants, including forecast and energy services, yield reports, and remote service and 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.
S.A.G. Solarstrom AG was founded in 1998. Around 200 specialists work at the four locations in Germany and the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime 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
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