Solar Millennium sells US project pipeline to solarhybrid

Solar Millennium has sold the two project holding companies Solar Millennium Capital GmbH and Solar Millennium USA 2 GmbH to solarhybrid AG, Brilon. The sale of the two companies transfers Solar Millennium’s entire project pipeline for solar power plants in the southwest of the United States with a total capacity of 2.25 gigawatts to solarhybrid. This includes the 70 percent stake in Solar Trust of America LLC.

The purchase agreement is subject to the condition precedent that solarhybrid will redeem surety bonds, which Solar Millennium granted in association with the US projects, by 31 March 2012.