Freiburg i. Br., March 6, 2014. S.A.G. Solarstrom AG (WKN: 702 100, ISIN: DE0007021008), Freiburg i. Br., has been granted a debtor-in-possession loan (“Massekredit”) totalling €1.5m by Sparkasse Freiburg – Nördlicher Breisgau.
Insolvency administrator Dr. Jörg Nerlich and the Executive Board of S.A.G. Solarstrom AG requested the loan in consultation with the provisional creditor’s committee to allow the company to conclude the sale of German and Italian projects and to implement its restructuring program and search for investors as planned without any time pressures.
S.A.G Solarstrom AG is anticipating an inflow of funds somewhere in the low double-digit millions by the end of 2014’s second quarter from the closing of these sales and the repayment of a loan to a project company.
The loan is subject to the usual banking conditions being fulfilled and corresponding financing documents being signed.
About S.A.G. Solarstrom AG
S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg i.Br., Germany, is a manufacturer-independent provider of photovoltaic plants configured to customers’ individual needs. The Group constructs plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produces solar energy at its own plants.
S.A.G. Solarstrom AG’s service portfolio covers the entire life cycle of photovoltaic plants, including forecast and energy services, yield reports, and remote service and maintenance, as well as insurance and financing. The Group thus offers a comprehensive value chain in photovoltaics, from yield reports, planning, construction, operations, and monitoring to optimization, repowering, and deconstruction.
S.A.G. Solarstrom AG was founded in 1998. Around 190 specialists work at the four locations in Germany and the foreign subsidiaries.
S.A.G. Solarstrom AG is listed in the Prime Standard of the Frankfurt Stock Exchange as well as according to the rules and standards M:access of the Munich Stock Exchange.
Further information: www.solarstromag.com