7C Solarparken AG 7C adds further 2.4 MWp to its portfolio, including two new-build installations constructed by E.ON and esetup
Business news for the stock market
Bayreuth (pta022/17.08.2018/15:15) - Bayreuth, 17 August 2018 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has invested in three further PV projects in Germany of which two new-build projects. As a result, the group's IPP portfolio will rise to 152 MWp.
Acquisition of operating 1.1 MWp rooftop installation in Derching
The rooftop PV park in Derching, situated near Augsburg in Bavaria, has been installed in 2010 with a capacity of 1.1 MWp using components from AU Optronics and AEG. The installation enjoys a tariff of EUR 303/MWh. Assuming a normalised output of 1000 kWh/kWp, the asset will bring annual revenues of above EUR 0.3 Mio per year and has been financed for ca. 80% with project finance carrying an fixed interest rate of 2.1%. The transaction is related to the purchase of the Amatec business earlier this year, through which 7C Solarparken also gained rights of first refusal on operating solar installations. After having acquired already the 2.3 MWp freefield park "Weißer Weg" at the end of May 2018, the installation in Derching is the second and final investment related to the rights of first refusal obtained in the Amatec transaction.
Acquisition of a completed new-build project of 749 kWp in Friedrichsholm
7C Solarparken has reached a purchase agreement with E.ON regarding a 749 kWp rooftop installation in Friedrichsholm. The project, which is constructed on agricultural roofs, has secured a feed-in tariff of EUR 111/MWh thanks to its commissioning in June 2018. The project is equipped with panels from Trina Solar and Delta inverters. 7C Solarparken already worked together with E.ON in 2016 for similar projects in Schinne and Steinburg.
EPC agreement signed for 0.6 MWp rooftop project in Flieth-Stegelitz
7C Solarparken has secured the project rights to build a small agricultural rooftop of 0.6 MWp in Flieth-Stegelitz, Brandenburg. The construction works will be executed by the Berlin-based contractor "esetup UG" which will install panels from REC Solar in combination with Huawei inverters. The installation is scheduled to be commissioned at the end of September 2018 at a feed-in tariff of EUR 109/MWh.
Steven De Proost, CEO of 7C Solarparken AG: "Since the beginning of the year, we have already added 34 MWp of new capacity to our portfolio and clearly exceeded our year-end target of 150 MWp. The recent capital increase has provided us the necessary firepower to finance the construction phase of new projects which otherwise would have remained in the pipeline until 2019. The context for new investments remains attractive given falling panel prices due to a slowdown of PV demand in China, and low interest rates for long-term project financing."
7C Solarparken AG is a pure-play PV owner/operator with an IPP portfolio of more than 150 MWp. Most installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.
emitter: 7C Solarparken AG
address: An der Feuerwache 15, 95445 Bayreuth
contact person: Koen Boriau
phone: +49 921 230557-77
ISIN(s): DE000A11QW68 (share)
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