TORONTO, Dec. 12 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR), an established photovoltaic solar power systems integrator and solar power producer, today announced that it has broken ground on the first phase of a 10-acre solar power park in Hausen, Germany ("Solar Park Hausen"). Solar Park Hausen is the second solar park owned by SonnenEnergy, which also maintains three parks that it built previously for commercial customers.
"With the completion of Phase I of the project, Solar Park Hausen will have a capacity of 1,000 kWp with expected annual revenue of approximately (euro)400,000," said Sudhir Morar, SonnenEnergy's President and Chief Executive Officer. "Future expansion of the solar park could potentially increase its capacity up to 2,500 kWp."
"We are currently securing a number of additional sites for solar parks in Germany and other locations in Europe that could significantly increase our total power capacity and production revenue by the end of 2008," added Mr. Morar. "We are also evaluating potential opportunities in North America. We remain focused on developing projects that will increase our total power capacity and drive revenue, as we work to becoming the leading solar power integrator and producer of solar power."
SonnenEnergy has also signed contracts to develop a number of projects that will be sold to customers. These projects are expected to generate approximately (euro)10 million in non-recurring revenue. SonnenEnergy is also conducting contract negotiations for a number of other projects, including solar parks, which could potentially generate significant additional non-recurring revenues in the next 18 months.
About SonnenEnergy
SonnenEnergy Corp. is a solar power systems integrator and solar power producer. The company markets, sells, designs, installs, operates, and maintains grid-connected solar power systems and has installed more than 100 photovoltaic (PV) solar power commercial and residential systems since 2004. Its European operations are headquartered in Polling, Germany and it operates four solar parks in southern Germany (three that it built and maintains for commercial customers and one that it operates for its own account) which have total installed capacity of more than 4,000 kWp.
Forward-Looking Statements
Forward-looking statements in this news release are based on current expectations that are subject to significant risks and uncertainties. Actual results might differ materially due to various risks and uncertainties as described in the company's amended and restated preliminary prospectus available at www.sedar.com. Such risks and uncertainties include, but are not limited to, the retention of key personnel, its dependence on suppliers for components for the systems that it designs and installs, the availability of silicon, its ability to expand sales, technology changes, unexpected warranty expenses or service claims, and its ability to meet its clients' expectations. SonnenEnergy assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements.
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