Hannover Leasing acquires three SunEdison PV systems in Spain

MADRID, SPAIN & BELTSVILLE, USA: SunEdison, North America’s largest solar energy services provider, announced that Hannover Leasing has purchased three SunEdison photovoltaic solar energy systems in Spain’s Lleida province. Under a long-term agreement, SunEdison will monitor, maintain and operate the systems, which have a combined capacity of 4.3 MW. Further details of the transaction were not disclosed.

The three ground mount systems -- 1.6 MW in Alamus; 1.6 MW in Borges Blanques; 1.1 MW in Cervia -– have been operating since September 2008.

“Hannover Leasing recognizes the long-term value of investing with companies which have a proven track record of constructing and operating photovoltaic solar systems. Our goal is to deliver opportunities with financing structures that create immediate tangible value and long-term, stable returns to our partners,” said Carlos Domenech, COO, SunEdison.

Andreas Ahlmann, Managing Director, Hannover Leasing, said: “Despite the economic downturn, Hannover Leasing continues to invest in solar projects. SunEdison is a proven leader in the photovoltaic solar market and has a reputation for developing quality projects that exceed expected generation. These systems offer a unique risk-return profile.”

Due to the company’s advanced monitoring and control technologies, SunEdison’s portfolio of solar assets performed at over 100 percent of expected output in 2008 -- generating stable, low risk cash flows for investors.

SunEdison has more than 200 photovoltaic solar energy systems under management in North America and Europe. The company has offices throughout the United States, Spain, Italy, France and Germany.