solarhybrid Builds the Largest Solar Power Plant in Europe

BRILON, Germany, September 1, 2011 /PRNewswire/ --

Expansion of the freestanding photovoltaic plant, FinowTower, in Finowfurt/Brandenburg- total capacity of 84.5 MW

solarhybrid AG has started work, as a general contractor, on the expansion of the solar power plant, FinowTower, at the former Eberswalde/Finowfurt military airport in the district of Schorfheide, northeast of Berlin. The expansion adds 60.2 MW and increases the capacity of the power plant to a total of 84.5 MW. This will make it the largest solar power plant in Europe, extending over an area equivalent to 260 football pitches.

The contract for the expansion given to solarhybrid is worth approximately €111.5 million. Deutscher Solarfonds Stabilität 2010 GmbH & Co. KG, initiated by Altira Renewables Management GmbH, is the client and investor as well as the operator. Commerzbank AG is providing the outside financing.

solarhybrid has developed the large-scale project itself, from the initial concept to the construction and building permit including the financing and structuring. The expansion is the result of the successful realisation of the first building phase, FinowTower I.

Proven partners from previous large-scale projects are involved in this second phase of construction, FinowTower II: photovoltaic modules from Suntech, inverters from SMA, mounting technology from Mounting Systems, planning by Enerparc, installation by Conecon.

The solar power plant, FinowTower II, should be on line in late December. It is expected to generate 82 million kilowatt hours (kWh) per year, which will be able to meet the needs of approximately 23,500 households. By eliminating 1,550,000 tons of harmful carbon dioxide (CO₂) over a 20 year period, FinowTower will make an important contribution to the reduction of greenhouse gas emissions and to the expansion of renewable energies.

The entire construction will be documented using four time-lapse cameras. The images can be seen via live streaming at http://www.solarhybrid.ag once construction begins.

A detailed press release and images can be downloaded at http://www.solarhybrid.ag/pm.html

About solarhybrid - http://www.solarhybrid.ag

solarhybrid AG develops, plans and constructs large-scale, turnkey solar power plants up into the three-digit megawatt range worldwide. It offers comprehensive technical and financial solutions for such power plants. Project financing, structuring and marketing are handled by solar hybrid capital management GmbH, a 100% subsidiary. The business is run and operated from locations in Hamburg, Frankfurt/Main and Brilon. The company's shares are traded on the open market of the Frankfurt Stock Exchange.

Press contact:
Dr Ralf Koch
Head of Public Relations
solarhybrid AG

Phone: +49(0)2961-96646 - 67
presse@solarhybrid.ag