TORONTO, Dec. 12 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR), an established
photovoltaic solar power systems integrator and solar power producer, today
announced that it has broken ground on the first phase of a 10-acre solar
power park in Hausen, Germany ("Solar Park Hausen"). Solar Park Hausen is the
second solar park owned by SonnenEnergy, which also maintains three parks that
it built previously for commercial customers.
"With the completion of Phase I of the project, Solar Park Hausen will
have a capacity of 1,000 kWp with expected annual revenue of approximately
(euro)400,000," said Sudhir Morar, SonnenEnergy's President and Chief
Executive Officer. "Future expansion of the solar park could potentially
increase its capacity up to 2,500 kWp."
"We are currently securing a number of additional sites for solar parks
in Germany and other locations in Europe that could significantly increase our
total power capacity and production revenue by the end of 2008," added Mr.
Morar. "We are also evaluating potential opportunities in North America. We
remain focused on developing projects that will increase our total power
capacity and drive revenue, as we work to becoming the leading solar power
integrator and producer of solar power."
SonnenEnergy has also signed contracts to develop a number of projects
that will be sold to customers. These projects are expected to generate
approximately (euro)10 million in non-recurring revenue. SonnenEnergy is also
conducting contract negotiations for a number of other projects, including
solar parks, which could potentially generate significant additional
non-recurring revenues in the next 18 months.
SonnenEnergy Corp. is a solar power systems integrator and solar power
producer. The company markets, sells, designs, installs, operates, and
maintains grid-connected solar power systems and has installed more than 100
photovoltaic (PV) solar power commercial and residential systems since 2004.
Its European operations are headquartered in Polling, Germany and it operates
four solar parks in southern Germany (three that it built and maintains for
commercial customers and one that it operates for its own account) which have
total installed capacity of more than 4,000 kWp.
Forward-looking statements in this news release are based on current
expectations that are subject to significant risks and uncertainties. Actual
results might differ materially due to various risks and uncertainties as
described in the company's amended and restated preliminary prospectus
available at www.sedar.com. Such risks and uncertainties include, but are not
limited to, the retention of key personnel, its dependence on suppliers for
components for the systems that it designs and installs, the availability of
silicon, its ability to expand sales, technology changes, unexpected warranty
expenses or service claims, and its ability to meet its clients' expectations.
SonnenEnergy assumes no obligation to update any forward-looking statement or
to update the reasons why actual results could differ from such statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Sudhir Morar, President and CEO, SonnenEnergy
Corp., Tel: (416) 410-1212, Email: firstname.lastname@example.org