Bloomberg News

Solarhybrid Buys Solar Millennium’s 2.25-Gigawatt U.S. Pipeline

February 05, 2012

Feb. 3 (Bloomberg) -- Solar Millennium AG, a German renewable energy developer that filed for insolvency Dec. 21, sold its 2.25 gigawatts of U.S. projects in development to Solarhybrid AG.

Solar Millennium sold two project holding companies, including a 70 percent stake in its U.S. unit Solar Trust of America LLC, the Erlangen-based developer said today in a statment. The price wasn’t disclosed. Payment is linked to achieving certain milestones, such as signing power-purchase contracts for the projects.

Link to Statement:{NSN LYU2LW3PR6RK <GO>}

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net


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