Photon Energy announces the acquisition of 66% of 3 x 1 MWp projects in Slovakia
The Management Board of Photon Energy announces the acquisition of 66% equity stakes in SUN4ENERGY BB, s.r.o., SUN4ENERGY ZVB, s.r.o. and SUN4ENERGY ZVC, s.r.o. from SUN4ENERGY, s.r.o. The three companies hold the project rights to three photovoltaic plants in the municipalities Babina and Hrušov with an installed capacity of 999 KWp each. The total consideration for the aggregate equivalent of 1.98 MWp is EUR 654,120 (CZK 16.6 million, PLN 2.59 million). SUN4ENERGY s.r.o. will continue owning 34% in all three project companies.

All three projects are prepared for immediate construction. Photon Energy intends to realize these three projects for its proprietary portfolio and to connect them to the grid in early 2010Q4.

"The acquisition of our first three projects in Slovakia from our accomplished local partners SUN4ENERGY and our joint long-term investment into high-performance PV plants in Slovakia are a clear indication of our determination to execute our international expansion strategy and our commitment to the nascent Slovak photovoltaic market", commented Michal Gärtner, Photon Energy's CEO.

Photon Energy and its board members are unrelated to the principals of SUN4ENERGY, s.r.o.

Legal basis: § 3 ust.2 point no.2 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 "Current and Periodical Information in the Alternative Trading System"


Osoby reprezentujące spółkę:

* Michal Gärtner - Chairman of the Board of Directors
* Georg Hotar - Vice-chairman of the Board of Directors