DGAP-News: Global EcoPower and Leonidas Associates close 32mEUR solar deal in France

Global EcoPower S. A.  / Key word(s): Development of Sales

04.11.2010 08:47 
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French solar developer Global EcoPower will build two PV projects in France
on a turnkey basis for a global installed capacity of 8.86 Mwp. These
projects have already been sold to German fund Leonidas IV (Group Leonidas
Associates Gmbh) for a price of 32mEUR.

The project details are following:

  - Ground project Veules-les-Roses in Seine Maritime for 5.52 Mwp
    installed capacity.

  - PV greenhouse project Bourgneuf-en-Mauges in Maine et Loire for 3.34
    Mwp installed capacity.

The two projects will still benefit from the old feed-in-tariff (before
price decrease from Sept 1st 2010) of 31.4cts/Kwh plus indexation for the
ground project and 42cts/Kwh plus indexation for the PV greenhouses.

Construction of the two projects will start before 2010 year end and
commissioning is expected in Q2 and Q3 2011.

Leonidas Associates are required to pay Global EcoPower in variable
installments dating from SPA signature, until commissioning, in accordance
with completion of the work program.

Philippe Perret, EVP of Global EcoPower declares: 'We experienced huge
interest from institutional buyers, mainly in Germany, for the acquisition
of these two projects, confirming the attractiveness of the French PV
market. This transaction with Leonidas Associates is the outcome of
successful pipeline development and will generate, commencing as early as
2010, the first important revenues of Global EcoPower.'

Antje Grieseler, CEO of Leonidas Associates declares:' We found in Global
EcoPower a dynamic and experienced team of PV projects developers. We are
proud to finalize our first transaction in the very promising French PV
market. Our clients will benefit from the combination of good irradiation
and attractive feed-in-tariff.  '

 

Global EcoPower: 

The French group is a leading participant in the French photovoltaic sector
and has decided to focus its activities on development, construction and
operation of solar power plants in France.

Boosted by the experience of its founders in the field of renewable energy,
Global EcoPower is currently developing, within organic growth, 47 projects
for a forecasted installed capacity of 266 MWp, mainly in the South of
France. For these projects, a mix of ground and greenhouse roof tops, land
has been secured and development process is ongoing.

The group's strategy is to keep, for its own account, 50% of the plants
that have been built and to sell to third parties the remaining 50%.

For more information:

Global EcoPower
Pho: +33442245016 
Fax: +33442391941
contact@global-ecopower.com
www.global-ecopower.com


Leonidas Associates GmbH:

Being already a constant in the market, German investment group Leonidas
Associates GmbH is the innovative specialist when it comes to institutional
investments in photovoltaic all over Europe. Since last year the experts
from Eckental near Nurnberg are providing their expertise also to private
clients. With its successful solar funds Leonidas will be investing over
180 million Euros in France over the next two years. Offering a
professional management team, an efficient cost management as well as high
transparency, Leonidas is granting access to the photovoltaic sector for
private investors, which so far has exclusively been subject to
professional investors.

For more information:

Leonidas Associates GmbH
Pho:  +4991262549814
Fax:  +4991262549820
Email: contact@leonid-as.com
www.leonid-as.com


04.11.2010 08:47 Dissemination of a Corporate News, transmitted by DGAP - 
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