| 15.04.2008 - Jersey, 15 April 2008. – Meinl International Power Ltd. (MIP), the financial investor, is purchasing several solar power stations in Spain and is thus further expanding its position on the Spanish photovoltaic market. The transaction has a total volume of about EUR 87 million and is the seventh investment to date that MIP has landed since it went public in the summer of 2007. It comprises photovoltaic power stations at a total of four locations on the Spanish peninsula, as well as in the Balearic Islands.
The newly acquired solar power stations are being developed and built by a subsidiary of the German SOLON AG. All four locations are scheduled to be connected to the grid already before the end of September 2008 in order to secure the currently high feed-in tariffs. A price adjustment clause reduces the risk of a tariff change, which guarantees a double-digit return. The annual production of the solar power station makes it possible to supply 5000 households with electricity from renewable energy sources.
LRP Landesbank Rheinland Pfalz, Mainz, structured the funding of the project. LRP is the sole financing arranger. For the bank, this is the largest project it has funded in Spain to date.
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