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Acquisition of Israeli project pipeline

(PresseBox) (Markranstädt, ) solarhybrid AG, Brilon, announces the acquisition of project rights for PV systems with a total capacity of approx. 201 MWp. Several minority shareholders own on average 22% of these projects, the largest among them being Ormat Systems Ltd, Yavne, Israel. The projects were acquired by the newly founded subsidiary solarhybrid Israel, Tel Aviv, from the estate of the insolvent Sunday Energy Ltd., Ra'anana, Israel. The purchase consideration consisted of a one-time payment of NIS 9 million and an earn-out payment of NIS 240 per realized kWp.

About solarhybrid AG

solarhybrid AG is project developer and general contractor for turn-key photovoltaic power projects at utility scale. The company offers the following services:

- Project development and co-development
- Financing and structuring
- Sale to investors
- Engineering, procurement, and construction services (EPC contracting)
- Operation and Maintenance (O&M)

Project financing, structuring and marketing are all carried out by solarhybrid capital management GmbH, a wholly owned subsidiary of solarhybrid AG. A list of references with a total capacity of 266 megawatts (both completed and commissioned projects) is proof of the company's expertise in technical, organizational and financial project management in 2010 (48 MWp) and in 2011 (218 MWp). For the year 2012 a project pipeline exists in the countries of Germany and Italy with a total capacity of 323 MWp. Further projects in Germany, Italy, South and North Africa, Israel and the USA are in negotiation. solarhybrid focuses on a strategy of 'growth through project size, not by the number of projects.' In 2010, the average project size was 7 MWp and 20 MWp in 2011 already.

The company is run from its locations in Hamburg, Frankfurt and Brilon. In addition to these, there are also local companies in Italy, the Middle East and the United States. Company shares are traded on the General Standard of the Frankfurt Stock Exchange.

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