Hamburg, July 21, 2010 - COLEXON Energy AG has secured a 7.2 MWp solar energy system portfolio in the Czech Republic. The EnerCap Power Fund is the investor for the 20 million EUR project.
In May of this year, COLEXON started with the construction of the 7.2 MWp solar project portfolio in the Czech Republic. "We have already successfully carried out projects in France, Italy and the USA," Thorsten Preugschas, CEO and Chairperson of COLEXON, summed up. "We are expanding our international project business successively to reduce our dependence on national subsidy models. We are pleased that we can now implement a large portfolio in the Czech Republic, because the Eastern European solar energy market is very significant in this development due to its attractive framework conditions," Mr. Preugschas continued.
The Czech project covers a total area of 200,000 m2. It is being built with thin film modules from the market leader First Solar and a Schletter mounting system. The portfolio comprises three free field installations which will produce approximately 6.8 GWh electricity per year. Equivalently a coal fired power plant would generate approximately 7,200 tons of CO2 for the production of this electricity. These emissions can be avoided through the PV power plant.
Partnership with Perspectives
The contract volume of the project is more than 20 million EUR. Financing is secured by the EnerCap Power Fund and UniCredit Bank Austria AG The EnerCap Power Fund is a private equity fund focused on investments in renewable energy and high efficiency projects in Central and South-eastern Europe. Investors include the EIB, EBRD and Sumitomo Mitsui Banking Corporation. The Fund is managed by Prague based EnerCap Capital Partners. EnerCap sees in the facilities, which will be built in the Czech cities Mimon, Tocnik and Lomecek, a very promising basis for implementation of further joint photovoltaic projects. "EnerCap and COLEXON have built up a strong and trustworthy partnership over the past months. The concluded EPC and O&M agreements create a solid basis for good performance in the current projects as well as a perspective for the future," according to Michael White, Partner at EnerCap Capital Partners.
Source: COLEXON AG