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3U HOLDING AG develops solar project

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– Purchase of a 26 ha property
– Total investment volume of around EUR 25 million
– Solar farm with a capacity of more than 10 megawatts (MW)
– Immediate start of construction, completion by spring 2012
3U HOLDING AG is expanding in the field of project planning and constructs its first solar park. The solar park developed in Adelebsen, Lower Saxony, will be realized on an approximately 26 hectares large, former industrial area and will have a capacity of slightly more than 10 MW. 27,000 square meters of rentable floor space was also purchased with the property. The capacity is both installed on the roofs of the halls as well as in open space.
The total investment volume for the site Adelebsen will amount to approximately EUR 25 million. The financing of this project is carried out short term with own resources; attractive debt financing is sought in the medium-term.
The construction of the roof areas will commence immediately and should be completed this year. The photovoltaic modules assembled on the open space will be connected by spring of 2012. 3U HOLDING AG will increase its involvement in this field and will develop other projects as well.
Additional information
3U HOLDING AG has recently announced in the quarterly report III/2011 to expand its engagement in the field of renewable energies in the future even more broadly and enhance its product and service range continuously. In this context, 3U HOLDING AG has developed a five-pillar strategy based on the pillars of production, trade, services and increasingly consultancy/planning and project development. The necessary know how has been built up in recent quarters, both internally as well as with a strong network of partners.
The solar park being built in Adelebsen, Lower Saxony will have a capacity of around 10 MW. This is equivalent to the energy needed by about 2,500 households annually and it will avoid the output of 5,500 tons of CO2 per year.
The project is being implemented at an approximately 26 hectares former industrial area and is an example of how fallow conversion areas can be used sustainably and environmentally friendly. Mostly modules from Canadian Solar will be used. These modules have also been sold through the Subsidiary 3U SOLAR Systemhandel AG since the spring of 2011.
3U HOLDING AG plans in close coordination with local authorities all major administrative decisions and experiences benevolent support from political leaders. On this project says Dinah Stollwerck-Bauer, Mayor of Adelebsen: “We are delighted that 3U HOLDING will develop this derelict industrial area into a solar farm. The Adelebsen citizens can be proud that one of the major solar projects in Lower Saxony is realized here.”
Michael Schmidt, CEO and founder of 3U HOLDING AG: “The solar park Adelebsen is a flagship project for our Group and a clear demonstration of our capabilities in this area. At the same time this should be the starting point for further high-quality parks.”