Juwi restructuring

Juwi obtains €252 million loan from German bank consortium

28.08.2013: A 13-member German banking consortium led by Deutsche Bank, DZ Bank and UniCredit have agreed to provide German renewable energy project developer Juwi AG with a €252 million ($337 million) credit line. »This syndicated loan is the financial basis for our operative business in the next 3 years,« Juwi CFO Martin Winter said at the signing of the agreement. »For the Juwi Group, the signing of the syndicated loan is a key component of the company's business finance,« explained Sascha Rober, Juwi's head of corporate finance. The credit line will provide the company with planning certainty and stability, enabling it to go through with its strategic realignment plans. Going forward the company aims to focus more on wind power development and internationalization. In May, the company announced it would reduce its workforce by 40 employees due to its decision to stop building ground-mounted PV power plants in Germany. A Juwi spokeswoman told PHOTON that Juwi's decision to exit the solar project business in Germany was due to a number of factors, including increased module prices, a threat of further price increases due to the possible introduction of punitive tariffs on Chinese imports and poor funding conditions in Germany. © PHOTON http://www.juwi.com http://www.juwi.com/press_events/press/detail/juwi_signs_252_million_e uro_syndicated_loan_with_german_banking_consortium.html The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/79968.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com