S.A.G. Solarstrom completes sale of 33 MW plant in UK
Nov 11, 2013 - German solar company S.A.G. Solarstrom AG (ETR:SAG) said today it has completed the sale of the 33 MW Wymeswold solar plant in the UK to an institutional investor for a price in the medium double-digit million range.
The sale of the currently biggest photovoltaic plant in the country was implemented together with Hazel Capital Solar 2 LLP.
The photovoltaic plant was built by S.A.G. Solar UK in the first quarter of 2013. The company arranged a bridging loan, signed a power purchase agreement together with the project partner and has now received part of the sales profit. Under the terms of the financial agreement, S.A.G. Solarstrom will receive liquid funds in the upper single-digit million range. A considerable part of the proceeds will serve as cash deposits for any warranties arising for two years, S.A.G. Solarstrom said.
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