Solarhybrid Israel, subsidiary of Solarhybrid, recently sold 201MWp of project rights, which it originally bought in January for US$2,391,705, to Summit Energy of Israel. Under the agreement, current liabilities of Solarhybrid Israel amounted to US$398,617.50, while earn-out-payments in connection with the acquisition of the project rights totaled US$5,580,645.
The companies advised that Summit will make earn-out-payments to Solarhybrid Israel of up to US$1,195,852.50 once the projects reach completion. The news comes one month after Solarhybrid revealed that it had filed for insolvency in the local Arnsberg, Germany court.
This article requires Premium SubscriptionBasic (FREE) Subscription
Already a subscriber? Sign In
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
