SolarXTRA • news digest
Green Solar Finance finalizes deal with SunDurance Energy - Feb 5, 2010
Green Solar Finance announced that it has been awarded a
professional services agreement by SunDurance Energy to assist
the company in securing project financing for its solar clients. Green
Solar Finance will develop a project finance program for SunDurance
Energy to offer clients a favourable cost of capital from selected
capital sources. SunDurance Energy will provide more compelling
project financing options to clients by establishing long term
relationships with financing sources. The objective of the partnership
is to seamlessly integrate the financing process into the designing
and building of solar power solutions.
“We are pleased to partner with Green Solar Finance to enhance our customer service offering with real time pricing
and structuring,” said Al Bucknam, CEO of SunDurance Energy. “Green Solar Finance will provide the project finance
expertise to accelerate the growth of our company by adding this strategic element to our core business of developing,
designing, building and operating solar power solutions.”
David McGann, CEO of Green Solar Finance said “SunDurance Energy‘s deal flow and megawatt-scale focus provide
a perfect platform for Green Solar Finance to implement our finance capabilities and bring projects to a successful
close.”
Roth & Rau AG takes over solar activities of OTB Group B.V. - Feb 6, 2010
Roth & Rau AG is to take over from the OTB Group B.V., Eindhoven, Netherlands, 100% of the shares in that
company’s subsidiary OTB Solar B.V. (OTB). OTB’s product portfolio consists of systems and technologies for the
solar industry, especially antireflective coating systems and turnkey production lines for use in the manufacture of
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crystalline silicon solar cells. Moreover, OTB’s core competencies also include high-rate PECVD coating processes
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and industrial ink-jet printing applications with interesting potential for use in the production of new, high-efficiency
solar cells. All of OTB’s products, like those of Roth & Rau, are based on inline production.
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The acquisition will enable Roth & Rau AG to increase its market share as an equipment supplier for crystalline
solar technology and in its turnkey business. What’s more, the company has secured access to new competitive
technologies and is thus pressing further ahead with expanding its product portfolio. “OTB’s products optimally
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supplement our technology portfolio and will significantly contribute towards boosting our turnkey business. We also
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expect to generate synergies by integrating OTB’s product development capacities and its project management team,
with its successful track record on the market”, commented Dr. Dietmar Roth, CEO of Roth & Rau AG.
“Like cell and module manufacturers, equipment suppliers are also undergoing a far-reaching process of
consolidation,” added company CFO Carsten Bovenschen. “At the end of the day, there will only be a small number
of providers with high process expertise, a global presence and the critical mass to negotiate with customers on equal
terms. We see the takeover of OTB as a further consistent step within our growth strategy”.
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“We are pleased that we will have a partner as economically and technologically strong as Roth & Rau at our side in
future,” commented Paul Breddels, CEO of the OTB Group. “By making joint use of service and sales structures and
by harmonising our technologies we will be able to serve our customers even better in future.”
The purchase price amounts to € 35.5 million (including takeover of financial liabilities). Of this sum, an amount of
€ 30.0 million will be settled by issuing new Roth & Rau shares by way of a capital increase in return for non-cash
contributions. The capital increase in return for non-cash contributions will be executed from Authorised Capital II to
the exclusion of subscription rights. The new shares will be subject to a lockup period of 16 months following issue.
The remaining € 5.5 million will be paid in cash. OTB had orders on hand of around € 50 million as of 31 January
2010. Accounting for the necessary restructuring charge, Roth & Rau AG expects to generate synergy effects in terms
of costs and to see positive earnings contributions from OTB from the 2011 financial year onwards.
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