News Article
Dresser-Rand, MBB Sign Agreement for the Disposition of three PV Plants
Dresser-Rand Group Inc a supplier of rotating equipment solutions has reached agreement with MBB Clean Energy for the latter's acquisition of three power plants designed, built and commissioned by Dresser-Rand in Italy.
Dresser-Rand will provide long term O&M services which should be beneficial to MBB Clean Energy and is consistent with Dresser-Rand's business model to stay integrally involved with its equipment throughout its total life cycle.
The power plants represent 11 MW of renewable energy to be added to MBB Clean Energy's renewable energy portfolio. The plants are in full operation with approved feed in tariffs. The plants, with a total collector area of 77,680 sqm, consist of 44,764 polycrystalline silicon solar modules with an output of 245 Wt that, in 2012, produced an energy yield of about 16 million kilowatt hours. This corresponds to an annual electricity consumption of approximately 4,000 households.
MBB Clean Energy aims to become one of the leading clean energy producers in Germany with the acquisition and operation of European and International energy projects.
The Parties have agreed to finalize the closing and payment of the acquisition of the power plants by October 31, 2013, subject to customary closing provisions.
Eckhart Misera, MBB Clean Energy's CEO, stated: "On our way to one of the leading producers of clean energy in Germany we get the first top solar project in our portfolio with the plant located in the municipalities of Monreale and Piani degli Albanesi. The investment returns are about 40% higher than the minimum requests of the return on investment stated in the Prospectus, and that with a superb technical quality of the system."
Jesus Pacheco, Dresser-Rand's Executive Vice President New Equipment, said, "We are very proud that MBB Clean Energy AG has selected the Dresser-Rand plants to be the first solar project acquired for its interesting new bond portfolio, and to be part of MBB Clean Energy's exciting renewable energy business. This is a tribute to the high quality of the design, construction, operation and maintenance executed by Dresser-Rand in these PV plants".
