In the scope of negotiations on the sale of its US project pipeline, Solar Millennium AG said that it no longer believes that the transaction will be concluded before the end of the current year. Although Solar Millennium and SolarHybrid have reached a general understanding in terms of the substance and have signed significant agreements certain conditions for the effectiveness of the agreements have not yet been met. SolarHybrid AG has pointed out to Solar Millennium, among other factors, that it needs more time for internal coordination and negotiation in the US. Despite the postponement, both companies are adhering to their common goal of carrying out the transaction as planned if possible.
The Executive Board of Solar Millennium AG is reviewing the consequences and options resulting overall from the current circumstance for the business in the US and for the Solar Millennium Group.
Thermal Solar| News published on 21 / 12 / 2011 by Andrew Callaway