Hannover Leasing Acquires Three SunEdison PV Systems in Spain

By Prne, Gaea News Network
Thursday, June 4, 2009

MADRID - SunEdison Will Operate the Systems, With Combined Capacity of 4.3 MW, Under a Long-Term O&M Agreement

SunEdison, North America’s largest solar energy services provider, today announced that Hannover Leasing purchased three SunEdison photovoltaic solar energy systems in Spain’s Lleida province. Under a long-term agreement, SunEdison will monitor, maintain and operate the systems, which have a combined capacity of 4.3 MW. Further details of the transaction were not disclosed.

The three ground mount systems - 1.6 MW in Alamus; 1.6 MW in Borges Blanques; 1.1 MW in Cervia - have been operating since September 2008.

“Hannover Leasing recognizes the long-term value of investing with companies which have a proven track record of constructing and operating photovoltaic solar systems. Our goal is to deliver opportunities with financing structures that create immediate tangible value and long-term, stable returns to our partners,” said Carlos Domenech, COO, SunEdison.

Andreas Ahlmann, Managing Director, Hannover Leasing, said, “Despite the economic downturn, Hannover Leasing continues to invest in solar projects. SunEdison is a proven leader in the photovoltaic solar market and has a reputation for developing quality projects that exceed expected generation. These systems offer a unique risk-return profile.”

Due to the company’s advanced monitoring and control technologies, SunEdison’s portfolio of solar assets performed at over 100 percent of expected output in 2008 — generating stable, low risk cash flows for investors.

About Hannover Leasing

Hannover Leasing GmbH & Co. KG is one of the leading German leasing companies and arranger of closed-end funds in Germany with more than 48,000 private individual or institutional investors in more than 180 closed-end funds. With a focus on real estate projects, commercial aircraft financing, ship and rail investments, infrastructure, energy or private equity investments, Hannover Leasing uses its core competence for structured project financing and manages an asset volume of Euro 15,5 billion with an invested equity of Euro 8,4 billion.

About SunEdison

Sun Edison is North America’s largest solar energy services provider and operates across a global marketplace. Founded in 2003 in the U.S., develops, finances, builds and operates rooftop and ground-mount photovoltaic solar installations in North America, Canada and Europe.

SunEdison has offices throughout the United States, Spain, Italy, France and Germany.

For more information: Virginia Amador SunEdison Europe +34-608-943-101 vamador@sunedison.com www.hannover-leasing.de www.sunedison.com

Source: SunEdison

For more information: Virginia Amador, SunEdison Europe, +34-608-943-101, vamador at sunedison.com

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