DGAP-Media: Solar Millennium AG: Second corporate bond fully repaid
(firmenpresse) - Solar Millennium AG / Energy
20.04.2010 11:25
Dissemination of a Media Release, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- 30 million Euro bond is repaid with earnings from current operating
business and liquid funds released
- Thomas Mayer, spokesman of the Management Board: 'The commitment of our
investors has substantially contributed towards the realisation of
solar-thermal power plants.'
- Additional capital investment products planned in the future
Erlangen, 20 April 2010
Solar Millennium AG's second corporate bond to the amount of EUR 30
million, issued on 20 April 2005, was repaid to its investors today. The
bond helped to successfully realize Europe's first parabolic trough power
plants in the South of Spain over the last few years. The capital was used
for instance to finance project development costs for the Andasol power
plants. In return, investors received a fixed interest rate of 6.75% p.a.
Solar Millennium is repaying the bonds with earnings from its current
operating business as well as liquid funds recently released. Particularly
the sale of stakes in the Andasol 1, 2 and 3 power plants, as well as cash
flows from project development work completed for Andasol 3 resulted in a
considerable inflow of liquidity during the last few months. Moreover, the
sale of Andasol 1 and 2 released substantial liquid funds, which had served
as collateral for financing before. After the repayment of the bond, Solar
Millennium's liquid funds are still sufficient for promoting its current
projects. The Company's first corporate bond of EUR 20 million had already
been repaid in 2009. Andasol 1 and 2 have in the meantime taken up
operation, whereas Andasol 3 is under construction.
Thomas Mayer, spokesman of the Management Board: 'I would like to thank all
subscribers for the confidence they have bestowed on Solar Millennium in
the past five years. They all made a significant contribution towards
realising Europe's first parabolic trough power plants. We intend to offer
additional capital investment products in the future through our Solar
Millennium Invest AG subsidiary. In addition, by founding this financial
services company, we have furthermore subjected ourselves to even stricter
control through the supervisory authorities for banks, thus creating a
large degree of transparency to the benefit of our capital investors'.
About Solar Millennium AG:
Solar Millennium AG, Erlangen, (ISIN DE0007218406) is an international
company in the renewable energy sector, with its main focus on
solar-thermal power plants. Together with its subsidiaries and associates,
the Company specializes in parabolic trough power plants and has managed to
take a globally leading position in this field. Solar Millennium strives to
further extend its expertise in the area of solar-thermal power plants with
the aim of achieving and securing sustainable technology leadership. As
such, the Company covers all important business sectors along the value
chain for solar-thermal power plants: from project development and
financing to the technology and the turnkey construction and operation of
power plants. In Spain, Solar Millennium developed Europe's first parabolic
trough power plants and realized these together with partners. Additional
projects are planned aroundthe world with an overall capacity of more than
2,000 megawatts: here the current regional focus is on Spain, the US,
India, China, the Middle East and North Africa. More information is
available at www.SolarMillennium.com
About solar-thermal power plant technology:
Solar-thermal power plants generate electricity by converting solar
radiation into heat energy. In a parabolic trough power plant,
trough-shaped mirrors concentrate the incidental radiation onto a pipe in
the focal line of the collector. Its absorption heats a fluid heat medium
in the pipe, generating steam in the power block through a heat exchanger.
As in conventional power plants, the steam powers a turbine to generate
electricity. By integrating thermal storage, electricity can be supplied on
demand, even after sunset.
For further information:
Solar Millennium AG
Dipl.-Ing. Sven Moormann (Corporate Communications)
Dr. Stefan Eckhoff (Investor Relations)
Tel.: +49 (0)9131 9409-0
Email: Presse(at)SolarMillennium.de / Investor(at)SolarMillennium.de
Web: www.SolarMillennium.de
Disclaimer:
This press release constitutes neither an offer to sell nor the
solicitation of an offer to buy any securities of Solar Millennium AG. The
press release shall not form the basis for investment decisions regarding
securities of the company. Any such investment decision of a prospective
investor shall be based solely on such prospective investor's own
investigations and assessments.
This release contains forward-looking statements. These statements are not
a description of past facts, but rather relate to expectations and opinions
of Solar Millennium AG. These statements are based on current plans,
assessments and forecasts of the company. Investors should not rely on
these statements. Forward-looking statements must be understood in the
context of the circumstances existing at the time when they were made. The
company assumes no obligation to update the forward-looking statements in
this release based on new information or future events. Forward-looking
statements always involve risks and uncertainty. Due to a multitude of
factors, actual events and actual developments may differ significantly
from the forward-looking statements contained herein. The sole legally
binding version of this release is the German original document. The
English version is a convenience translation for journalists, analysts and
investors who are not able to understand German and may differ in part
there from. The company does not assume any responsibility or liability for
the correctness or completeness of this English translation.
20.04.2010 11:25 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 20.04.2010 - 11:25 Uhr
Sprache: Deutsch
News-ID 19300
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