Solar News - Q-Cells sells 40MW solar plants to focus portfolio

Q-Cells sells 40MW solar plants to focus portfolio

26 Jul 2011

German solar company Q-Cells has divested about 40MW of photovoltaic plants and has begun the production of modules at its independent facility in Thalheim, Germany.

A spokesperson told NewNet the sale was in order to focus its portfolio on its future strategy.

The sale of the Finsterwalde II & III PV power plants was to Blue Forrest Solar, a joint venture owned by DIF Infrastructure II and the NIBC European Infrastructure Fund.

Combined with the Finsterwalde I PV power plant, which was sold by Q-Cells in 2010, the overall Finsterwalde site has an installed capacity of 82 MWp, making it Germany’s largest solar PV site to date.

‘The successful hand-over of the Finsterwalde II & III solar power plants is a further proof of our expertise in the systems business,’ said Q-Cells CEO Nedim Cen. ‘We will continue to build on our long-standing experience as one of the leading international system integrators worldwide, further developing our strategic business with commercial solar installations. We focus on high-quality, safe products and efficient processes along the entire value chain, from development to construction, financing and reliable operation and maintenance of diverse solar applications.’

The transaction was financed with long-term loans by KfW IPEX Bank and Commerzbank, Q-Cells said.

Concurrently, the company has launched its independent production of its Q.PEAK high-performance modules with a capacity of 130MWp.

Tags: deal, Europe, germany, solar