Project Valuations for Solar Hybrid pre and post BK

Solarhybrid Israel sells 201 MW of project rights to Summit Energy

23.04.2012: German solar project developer Solarhybrid AG, which launched insolvency proceedings last month, reports that its subsidiary Solarhybrid Israel Ltd. has sold project rights for 201 MW of photovoltaic (PV) projects to Summit Energy LP Israel. According to Solarhybrid, Summit Energy will pay Solarhybrid Israel NIS 1.5 million ($0.4 million) plus earn-out payments amounting to NIS 21 million ($5.6 million). Upon completion of the projects, Summit Energy will pay Solarhybrid Israel up to NIS 4.5 million ($1.2 million) in additional earn-out payments. Solarhybrid Israel acquired the project rights in January 2012 for NIS 9 million ($2.4 million) plus the above-mentioned earn-out payments. … Source: Solarhybrid AG; Summary: PHOTON http://www.solarhybrid.ag http://presse.solarhybrid.ag/presse/news/news-2012/detail/verkauf-von- solarprojekten-in-israel/094acfe5949f1bf547f1bc8b7ec383ff/?L=en The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/64143.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com