Conergy sells French, German wind power projects to Impax Asset Management

(ADPnews) - Dec 10, 2010 - German solar power group Conergy AG (ETR:CGY) on Thursday said it had sold its German and French wind development and operating assets to an investment fund managed by Impax Asset Management (LON:IPX), which is specialised in the environmental sector.

Through the move Conergy aims to focus on its core solar business, CFO Sebastian Biedenkopf said.

The company remained silent about the financial details of the deal.

According to the agreement, Impax New Energy Investors will acquire the German wind development activities based in Hamburg, all partnership shares of three operating wind farms in Eastern Germany, the operation management business CSO Energy GmbH and Conergy's business in France.

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