7C Solarparken AG

7C Solarparken acquires 0.9 MWp rooftop installation near Rostock

Business news for the stock market

Bayreuth (pta025/29.06.2016/16:05) - Bayreuth, 29 June 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) purchased an operational 0.9 MWp rooftop PV farm in Neubukow, close to Rostock (Mecklenburg-Western Pomerania). Through this investment, the company's consolidated portfolio is rising to around 89 MWp. The PV power plant, equipped with First Solar panels and SMA string inverters, has been put into service in December 2008 and therefore enjoys a feed-in tariff of EUR 460.7/MWh. Without any further improvement initiatives, the installation will - under normal weather conditions - generate annual EBITDA of EUR 0.3 Mio. The project has been financed with long-term debt (EUR 2.0 Mio at year-end 2015).
Steven De Proost, CEO of 7C Solarparken AG comments: "Over the last six weeks we have acquired three comparable rooftop projects with locations around Gotha, Wismar and Rostock. The installations were built by the same EPC contractor and underperform the initial study by 5 - 10% due to technical deficiencies. We have planned a technical optimization in the second-half of the year which will cost around EUR 0.5 Mio and will bring full cash flow benefits as from 2017 ".

7C Solarparken
7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 89 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
[e-mail]
Tel. +49 (0) (921) 230557 77

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emitter: 7C Solarparken AG
address: An der Feuerwache 15, 95445 Bayreuth
country: Germany
contact person: Koen Boriau
phone: [phone]
e-mail: [e-mail]
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/20160629025 ]