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solarhybrid AG: 'FinowTower II' solar power plant connected to the grid - total project volume of 218 MWp completed in 2011

12-21-2011 01:45 PM CET | Energy & Environment

Press release from: solarhybrid AG

- 'FinowTower' solar power plant expanded by 60.4 MWp to 84.7 MWp - new capacity connected to the grid as scheduled

- Allstedt I PV power plant (capacity 18.5 MWp) completed as contracted and in accordance with the Renewable Energies Act

- Projects with a capacity of 218 MWp developed and realised by solarhybrid AG successfully completed at 11 locations in 3 countries in 2011 - over 1 million PV modules installed

- Good prospects for 2012: Project pipeline with a total of 323 MWp at 7 locations

Brilon, 21.12.2011. solarhybrid AG completed the last two solar power plant projects for the current financial year, 'FinowTower II' and 'Allstedt I'.

In the 'FinowTower' project, which was expanded this year by 60.4 MWp from 24.3 MWp to 84.7 MWp and is therefore currently the largest PV power plant in Europe, the last PV modules were installed on December 19. The two transformers in the transformer station were put into operation and the connection to the grid took place on December 20. It is planned to put the inverters gradually into operation and feed the full capacity to the grid by the end of the year.

The 'Allstedt I' project was the last project where construction started. The planning envisaged that the project would be completed in accordance with guidelines of the Renewable Energies Act (EEG) in order to secure the 2011 EEG feed-in tariff for the whole capacity of 18.5 MWp. This goal has been achieved. The connection to the grid is scheduled to take place in late January.

2011 an extremely successful year

solarhybrid AG can look back on an extremely successful 2011 in which all of the planned projects were without exception structured, financed, marketed, constructed and completed according to schedule. It therefore exceeded by far the corporate goals it had set itself. A total of 11 solar power plants in 3 countries with a capacity of 218 MWp were realised in the following locations:

- Ternavasso, Italy, 7.8 MWp
- Cortiglione, Italy, 1.5 MWp
- Dedelow, Germany, 3.9 MWp
- Badin, Slovakia, 6.0 MWp
- Banna, Italy, 9.5 MWp
- Lönnewitz, Germany, 21.7 MWp
- Werneuchen, Germany, 18.9 MWp
- Cottbus-Drewitz, Germany, 30.2 MWp
- Fürstenwalde I, Germany, 39.5 MWp
- FinowTower II, Germany, 60.4 MWp
- Allstedt I, Germany, 18.5 MWp

The capacity installed was 4.5 times greater than the capacity installed in 2010 (48 MWp). The average project size increased from 7 MWp in 2010 to 20 MWp in 2011. A total of more than 1 million PV modules were organised logistically on time and installed on the module panels.

Good prospects for 2012

For 2012 projects with a volume of 323 MWp at 7 locations are currently planned, which would increase the average project size to 46 MWp. This underlines solarhybrid AG's strategy of growth through project size and not through the number of projects.

solarhybrid continues to focus on Germany and Italy, although initial projects in the USA, Israel, Bulgaria and South Africa should follow which are not currently included in the 323 MWp project pipeline.

The key partners of solarhybrid AG

solarhybrid AG's strategy is based on close and strategic partnerships in order to achieve maximum volume with lean structures and quickly enter new markets.

On the planning side, Enerparc AG continues to be a strategic and important partner for solarhybrid AG, and the same applies in equal measure for Conecon GmbH on the assembly side. In both areas solarhybrid AG will continue to acquire new partners. Enerparc and Conecon will, however, continue to account for the greatest volume and therefore continue to grow with solarhybrid AG.

On the investor side, in 2011 Altira AG, Frankfurt, acquired over 80 % of the project volume as an equity investor. Here the aim is to secure a wider line up while maintaining the partnership with Altira.

In 2011 solarhybrid acquired PV modules with a capacity of 170 MWp from Suntech. solarhybrid is therefore now the biggest customer of Suntech, the world's leading manufacturer of crystalline PV modules. Ja Solar (35.5 MWp) and Trina (12.5 MWp) have also become strategic partners. In all of the projects, only inverters from the global market leader SMA were used, making solarhybrid one of SMA's top customers. In 2011 the mounting technology was supplied exclusively by Mounting Systems. In the 'Vega I' project (39 MWp) in Italy, where construction work recently started, Hilti is being used for the first time as the partner for mounting technology.

solarhybrid AG is project developer and general contractor for turn-key photovoltaic power projects at utility scale. The company offers the following services:

- Project development and co-development
- Financing and structuring
- Sale to investors
- EPC (Engineering, procurement, and construction services)
- Q&M (Operation and Maintenance)

Project financing, structuring and marketing are all carried out by solarhybrid capital management GmbH, a wholly owned subsidiary of solarhybrid AG. A list of references with a total capacity of 266 megawatts (both completed and commissioned projects) is proof of the company's expertise in technical, organizational and financial project management in 2010 (48 MWp) and in 2011 (218 MWp). For the year 2012 a project pipeline exists in the countries of Germany and Italy with a total capacity of 323 MWp. Further projects in Germany, Italy, South and North Africa, Israel and the USA are in negotiation. solarhybrid focuses on a strategy of 'growth through project size, not by the number of projects.' In 2010, the average project size was 7 MWp and 20 MWp in 2011 already.

The company is run from its locations in Hamburg, Frankfurt and Brilon. In addition to these, there are also local companies in Italy, the Middle East and the United States. Company shares are traded on the General Standard of the Frankfurt Stock Exchange.

solarhybrid AG
Albert Klein
Vorstand
Tel.: +49 2961 / 9 66 46 - 0
Email: akk@solarhybrid.ag

edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Eschersheimer Landstraße 42
60322 Frankfurt
Tel.: +49 69 / 90 55 05-51
Email: solarhybrid@edicto.de

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