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.
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