MEMC Electronic Materials advised that during Q2 2012, it had completed sales contracts for four solar projects in Europe totalling 98MW. The company completed solar projects worth 60MW in Bulgaria and 38MW in Italy.
MEMC noted that cash received from the closing of these transactions will be included in its Q2 cash balances, while revenue recognition will be subject to applicable revenue recognition rules. It plans to release further details in the coming weeks and during its August conference call.
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