Business news for the stock market

Bayreuth (pta010/04.08.2020/09:00) - On the 9th September 2019, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announced it had entered into an agreement with MaxSolar GmbH to acquire a 750 kWp installation in Gumtow (Brandenburg) with the option to extend the project with a further 4.5 MWp during H1'20. Today, 7C Solarparken announces the completion of this 4.5 MWp new-build project enjoying an auction tariff of EUR 63.6/MWh for 20 years. The solar installation is equipped with Longi Solar panels and ABB inverters. Due the higher efficiency of these panels, a second extension project of 750 kWp with Suntech modules and Delta inverters, could be realised as well. Finally 7C Solarparken purchased a small portion of the land (1.9 ha).

Steven De Proost, CEO of 7C Solarparken AG, comments: "The completion of the Gumtow projects has, amid the outbreak of CoVid-19, taken longer than scheduled mainly due to time delays in the permitting and grid connection process, but in the end the project reached a size of 6 MWp, which is 750 kWp more than initially planned. This lifts the IPP portfolio of 7C Solarparken to 215 MWp, which is close to our year-end target of 220 MWp. Further growth beyond this mark will, as highlighted in our strategic plan, require new proceeds from equity funding."

7C Solarparken
7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 215 MWp, including 6 MW onshore wind. Including, its asset management activities, the group ` s managed portfolio stands at 292 MWp. Nearly all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

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emitter: 7C Solarparken AG
address: An der Feuerwache 15, 95445 Bayreuth
country: Germany
contact person: Koen Boriau
phone: +49 921 230557-77
e-mail: info@solarparken.com
website: www.solarparken.com

ISIN(s): DE000A11QW68 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf; open market in Berlin, Tradegate
other stock exchanges: London

[ source: http://www.pressetext.com/news/20200804010 ]