German Solarhybrid to build 30 MWp solar plant in Germany

Jul 21, 2011 - German solar technology company Solarhybrid AG (ETR:SHL) announced today it had received an order to build a solar power plant with a total capacity of 30 MWp in Germany.

The financing of the project will be carried out by the solar sector fund Deutscher Solarfonds Stabilitaet 2010 GmbH & Co. KG, while Commerzbank (ETR:CBK) will secure the external financing.

The order is worth around EUR 58 million (USD 82.75m) and according to Solarhybrid it is the biggest the company had ever received.

The new solar power plant is expected to be connected to the grid in September 2011.

Including this order, Solarhybrid's to-date order backlog in 2011 amounts to EUR 175 million. As of January the company has received orders for the construction of PV power plants with a combined capacity of 81.5 MWp, of which 56 MWp are to be built in Germany, 19.5 MWp in Italy and 6 MWp in Slovakia.

The company also announced today it was sticking to its 2011 forecast for revenue of EUR 300 million to EUR 350 million and earnings before interest and tax (EBIT) of between EUR 10 million and EUR 15 million.

(EUR 1.0 = USD 1.427)

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