3U SOLAR Systemhandel AG, a Subsidiary of 3U HOLDING AG (ISIN DE0005167902), has signed a framework contract for the purchase of photovoltaic (PV) modules with Canadian Solar Inc, one of the world's largest and most renowned solar module producers. This framework contract includes the procurement volume for PV modules with a capacity of 25 megawatts peak (MWp), with a value of up to EUR 30.0 million for the year 2011. 3U SOLAR benefits in this transaction from the financial strength of 3U HOLDING AG, which guarantees the financing.
Parallel, a framework contract to purchase PV modules was signed with a trading and project company from Berlin. This provides for the sale of PV modules with a value of up to EUR 18.5 million in the year 2011.
Based on these contracts, 3U HOLDING AG increases its sales forecast for the segment of renewable energies in 2011 from lastly communicated approximately EUR 10.0 million to more than EUR 30.0 million and expects to reach break even in this segment already in the current year.
The Annual Report 2010 of 3U HOLDING AG with audited financial results and an updated outlook for the current fiscal year is published on March 31, 2011.
Parallel, a framework contract to purchase PV modules was signed with a trading and project company from Berlin. This provides for the sale of PV modules with a value of up to EUR 18.5 million in the year 2011.
Based on these contracts, 3U HOLDING AG increases its sales forecast for the segment of renewable energies in 2011 from lastly communicated approximately EUR 10.0 million to more than EUR 30.0 million and expects to reach break even in this segment already in the current year.
The Annual Report 2010 of 3U HOLDING AG with audited financial results and an updated outlook for the current fiscal year is published on March 31, 2011.
