Friday, June 14, 2013

CEEG cancels solar module factory project

GERMANY: CEEG, a subsidiary of the Société Nationale de l'Electricité et du Gaz (Group books), the consortium, by letter dated 13 June 2013, cancelled the contract to build a fully integrated solar module factory in Algeria. The project was to be under centrotherm photovoltaics and Kinetics Germany GmbH. The original project amounted to about 290 million euros.

The effectiveness and relevance of termination is checked by the company. too a lawful termination would have no negative impact on the projected cash flow of centrotherm photovoltaics AG and the future development of society.

Any claims for damages against the company would be covered by the insolvency plan.

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