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SonnenEnergy Announces $2.2 Million Solar Park Financing Agreement with HypoVereinsbank
TORONTO, Oct. 24 /CNW/ - SonnenEnergy Corp. ("SonnenEnergy" or "the Company") (TSX-V: PWR), a lea...
About this update from Captiva Verde Wellness Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Oct. 24 /CNW/ - SonnenEnergy Corp. ("SonnenEnergy" or "the\nCompany") (TSX-V: PWR), a leading photovoltaic solar power systems integrator\nand solar power producer, today announced that it has completed a $2.2 million\nrefinancing agreement for the first phase Solar Park Hausen with the German\nbank HypoVereinsbank. Under the terms of the agreement, SonnenEnergy has\nprovided its interest in the first phase of Solar Park Hausen as security for\nthe loan. HypoVereinsbank has also agreed to provide an additional\n$5.4 million in financing to fund construction of the second phase of Solar\nPark Hausen, which is expected to be completed by the end of the year.\n\n\nSolar Park Hausen is the second solar park owned by SonnenEnergy, which\nalso owns and operates an 11-acre solar park in Waldstetten, Germany. Solar\nPark Hausen currently has a peak capacity of 0.8 megawatts ("MWp") and upon\ncompletion of Phase 2 of the project, will have a capacity of 1.7 MWp.\n\n\nAbout SonnenEnergy\n\n\nSonnenEnergy is a solar power systems integrator and solar power\nproducer. The company markets, sells, designs, installs, operates, and\nmaintains grid-connected solar power systems and, since 2004, has installed\nmore than 160 photovoltaic (PV) solar power systems for commercial and\nresidential customers. The company also operates solar power plants in\nsouthern Germany, which have total installed capacity of more than 5,000 kWp.\nSonnenEnergy's corporate offices are located in Toronto, Ontario and its\nEuropean operations are based in Polling, Germany, with a sales office in\nItaly. For more information, please visit SonnenEnergy's website at\nwww.sonnenenergy.com.\n\n\nForward-Looking Statements\n\n\nForward-looking statements in this news release are based on current\nexpectations that are subject to significant risks and uncertainties. Actual\nresults might differ materially due to various risks and uncertainties as\ndescribed in the company's amended and restated preliminary prospectus\navailable at www.sedar.com. Such risks and uncertainties include, but are not\nlimited to, the retention of key personnel, its dependence on suppliers for\ncomponents for the systems that it designs and installs, the availability of\nsilicon, its ability to expand sales, technology changes, unexpected warranty\nexp...