Business
SonnenEnergy announces 2007 year-end results
TORONTO, April 29 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR) ("SonnenEnergy"), an established photov...
About this update from Captiva Verde Wellness Corp
[{"type":"text","content":"\n\n\n\nTORONTO, April 29 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR)\n("SonnenEnergy"), an established photovoltaic solar power systems integrator\nand solar power producer, today announced its fiscal 2007 year end and fourth\nquarter results.\n\n\nHighlights for the year ended December 31, 2007:\n\n- First full year in operation for Solar Park Waldstetten, which is\n expected to generate in excess of $0.8 million in recurring annual\n revenues\n- Completed capital pool company qualifying transaction\n- Raised gross proceeds of $11.9 million through public offering\n- Broke ground on Solar Park Hausen\n- Named John Ross Chief Financial Officer\n\nHighlights subsequent to December 31, 2007:\n\n- Signed design, supply and installation agreement with The Home Depot\n Canada\n- Completed Phase 1 of Solar Park Hausen ahead of schedule. Once\n operating at full capacity of 2,500 kWp, Solar Park Hausen is\n expected to generate annual revenues of $1.4 million\n- Signed $6.5 million agreement to build 1.1 MWp solar park for\n customer in Germany\n- Established Italian sales team\n\n\n"2007 was a period of transition for SonnenEnergy as we closed our\ncapital pool company qualifying transaction and successfully completed a\nconcurrent public offering," said Sudhir Morar, SonnenEnergy's President and\nChief Executive Officer. "We broke ground on Solar Park Hausen and\nstrengthened our management team by adding John Ross as our Chief Financial\nOfficer."\n\n\n"Subsequent to the end of fiscal 2007, we signed an agreement to design,\nsupply and install photovoltaic solar power systems for The Home Depot\ncustomers in Canada and announced that we had completed Phase 1 of Solar Park\nHausen ahead of schedule," continued Mr. Morar. "Most recently, we finalized\nan agreement to build a 1.1 MWp solar power system for a customer in Germany.\nWe had hoped to complete this agreement in 2007 but unforeseen delays pushed\nits closing into fiscal 2008. We believe this agreement demonstrates our\nability to expand our business and generate revenues through the sale and\nconstruction of large-scale, utility grade solar power plants. The agreement\nis expected to generate $6.5 million in revenue in 2008, an amount that\nexceeds our total revenues for 2007."\n\n\n"During the fourth quarter of 2007, we exp...