solarhybrid AG: reports that construction work has started on the 123 MW Vega solar power plant in Italy
Good prospects for 2012
- All of the approvals for the 123 MWp Vega power plant in Italy have been received
- Work has started on 39 MWp construction phase - completion and connection to the grid by the end of Q1
- To be marketed to investors after connection to the grid
- Good prospects for 2012 based on a project pipeline for Germany and Italy with over 300 MWp
solarhybrid AG has started construction work on the Vega solar power plant in Italy.
Currently foundations are being laid with pile profiles, module plates are being assembled and the medium voltage line to the feed-in point and the transformer station are being built. In January 2012 it is planned that the PV modules will be assembled and that the inverters will be put up.
Therefore a PV power plant with a capacity of 39 MWp should be completed on this part of the site by March 2012. The components manufacturers and solarhybrid AG are acting as the interim investors. With its connection to the grid, the plant will be sold to the end investor and the financing by a bank will take place.
In addition to the proven partners Ja Solar (modules), SMA (inverters), Conecon (assembly of a section) and Enerparc (DC planning), the new partners Hilti (mounting systems), Biosar (assembly of a section) and BFP (AC planning) are participating in the project. The transformer station is being built by Siemens.
With the project, solarhybrid AG is pursuing for the first time the strategy of handing the solar power plant over to the investor after connection to the grid. For this purpose flawless documentation in the form of various positive due diligence reports is required. The companies and law firms participating in this project are:
- Legal Advisor: Norton Rose, Milan
- Financial Advisor: PwC, Frankfurt
- Technical Advisor: Fichtner Italia
- Risk Advisor: Marsh GmbH, Stuttgart
- Yield Report Advisor: Solarschmiede GmbH, Hamburg
From the 2nd quarter of 2012 construction work on the remaining 84 MW will take place. It is therefore planned that the entire plant capacity of 123 MW will be connected to the grid in 2012.
Strong project pipeline for 2012
Following its completion of solar power plants with a capacity of 218 MWp in 2011, solarhybrid AG's project pipeline for Germany in 2012, consisting of the Neuhardenberg project and other German projects, has a total plant capacity of ca. 200 MW. In addition to this, with the Vega project alone (123 MWp) there is an opportunity to increase the plant capacity realised abroad (24 MWp in 2011) many times over. With a current potential of 323 MWp in Germany and Italy alone, solarhybrid AG can look forward to 2012 with confidence and is planning to surpass the total capacity installed in 2011. In addition to this, further projects in Germany, Italy, Bulgaria, South Africa, Israel and the USA are lined up.
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
- Engineering, procurement, and construction services (EPC contracting)
- Operation and Maintenance (O&M)
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 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.