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    7C Solarparken AG  529  0 Kommentare 7C Solarparken successfully completes the optimisation of the 13.7 MWp Miskina portfolio

    Business news for the stock market

    Bayreuth (pta013/10.06.2016/10:36) - Bayreuth, 10 June 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) has reached an important milestone in its Strategy 2015-17 by fully executing the optimization of the Miskina portfolio (13.7 MWp) which has been acquired last year. The optimization encompasses an improvement of the performance ratio (PR) and a re-financing of the project loans, and exceeds management forecasts which have been communicated on last year's Investor Day. Management's priority will now shift to growth as to reach the 105 MWp target before year-end 2017.

    Technical optimization
    Two parks within the Miskina portfolio, Kissing (2.4 MWp) and Wiesenbach (1.8 MWp), have been yielding a PR of hardly 70% versus 77-78% levels achieved by the others parks in the portfolio. Through internalizing the O&M contract and exchanging the old stringboxes, inverters and transformers through high-efficiency equipment, both installations now reach a PR of 79% which bring EUR 160T in additional revenues per year. Further cost savings will result from a five-year inverter warranty, less repair costs and a reduction of own power usage by the stringboxes. While the improvement is fully matching management's indication outlined at last year's Investor Day, the total investment cost of EUR 0.7 Mio fell short of the EUR 1.0 Mio plan.

    Re-financing
    Parallel to the re-powering of the plant, management also executed a re-financing of the existing project loans. Under the new basis and excluding free available liquidity, net debt will amount to EUR 31.9 Mio at the end of June 2016. The average fixed interest rate has been reduced from 5.5% to 2.05% and will therefore generate annual savings of EUR 1Mio. The redemption penalty on the entire loan portfolio has been limited to EUR 2,3 Mio versus the management's initial estimate of EUR 2,4 Mio which even did not reflect a re-financing of the loan on the Kissing project. On a like-for-like basis, the total saving therefore amounts to EUR 0.6 Mio which almost covers the technical optimization cost.

    More information on this optimization is available under a specific investor presentation on 7C Solarparken's website.

    7C Solarparken
    7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 88 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).
    For further information:

    7C Solarparken AG
    An der Feuerwache 15
    95445 Bayreuth,
    Germany
    www.solarparken.com
    Steven De Proost, CEO
    info@solarparken.com
    Tel. +49 (0) (921) 230557 77

    (end)

    emitter: 7C Solarparken AG
    address: An der Feuerwache 15, 95445 Bayreuth
    country: Germany
    contact person: Koen Boriau
    phone: +49 921 230557-77
    e-mail: info@solarparken.com
    website: www.solarparken.com

    ISIN(s): DE000A11QW68 (share), DE000A14KRM4 (share)
    stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Dusseldorf; open market in Berlin

    [ source: http://www.pressetext.com/news/20160610013 ]




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    7C Solarparken AG 7C Solarparken successfully completes the optimisation of the 13.7 MWp Miskina portfolio Bayreuth, 10 June 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) has reached an important milestone in its Strategy 2015-17 by fully …