- Phase 1 of solar park construction completed ahead of schedule
- Construction continues on Phase 2 development will increase capacity
to 1,730 kWp
- Solar Park Hausen expected to have total capacity of 2,500 kWp upon
completion
TORONTO, March 27 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR) ("SonnenEnergy"), an established photovoltaic solar power systems integrator and solar power producer, today announced that it has completed the first phase of a 10-acre solar power park in Hausen, Germany ("Solar Park Hausen"), ahead of schedule. Solar Park Hausen is the second solar park owned by SonnenEnergy, which also owns and operates an 11-acre solar park in Waldstetten, Germany ("Solar Park Waldstetten").
"With Phase 1 of Solar Park Hausen completed, it will produce 800,000 kWh of electricity annually and generate revenue of approximately (euro)288,000," said Sudhir Morar, SonnenEnergy's President and Chief Executive Officer. "Construction continues on Phase 2 of the park, which is expected to increase the capacity to 1,730 kWp. Upon completion of all phases of the project, we expect Solar Park Hausen to have total capacity of 2,500 kWp."
"We are very pleased to have completed Phase 1 of Solar Park Hausen ahead of schedule," continued Mr. Morar. "This not only demonstrates our ability to quickly and efficiently build solar parks but also allows us to accelerate development of the next phase of the project. The early completion of Phase 1 also insures that the park will be operational and generating power during the spring and summer months, the peak period for solar power production."
SonnenEnergy recently announced the expansion of its operations into North America and is currently 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. SonnenEnergy's corporate offices are located in Toronto, Ontario and its European operations are based in Polling, Germany. The company operates solar power plants in southern Germany which have total installed capacity of more than 5,000 kWp. For more information, please visit SonnenEnergy's website at www.sonnenenergy.com.
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.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.