COLEXON signs 15MWp development acquisition deal with TNP

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Thin-film PV power plants developer COLEXON has announced its decision to enter into a strategic cooperation agreement with TNP, an investment company. The new deal stipulates that COLEXON will offer solar development projects of at least 10MWp to TNP by 2010, while TNP will in turn provide between 7MWp and 15MWp of solar projects, depending on the extent of the equity available.

The two companies will cooperate on development and construction of turnkey solar power plants. Additionally, both companies have committed to completion of solar projects from the 5MWp Wiesenhof portfolio. COLEXON has already completed a quarter of its obligations in this respect, and the remainder of the rooftop projects from the Wiesenhof portfolio are scheduled to be delivered and grid connected by the end of 2009. The new partners expect to generate a sales volume of at least €40 million through this collaboration.

“In tnp we have found an important long-term strategic partner. This cooperation shows that in the current market environment investors are still eager to invest in companies with a sustainable and long-term business strategy that secures a stable development,” commented Thorsten Preugschas, CEO, COLEXON Energy AG.

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