Aventron, HIAG create actual estate-focused solar JV in Switzerland

• Swiss eco-friendly power manufacturer Aventron AG and also property company HIAG Immobilien Holding AG (SWX: HIAG) have formed a joint endeavor to carry out solar photovoltaic or pv (PV) installations on HIAG residential or commercial properties.

The new firm, called HIAG Solar AG, is managed by Aventron with a 51% risk, while HIAG holds the remaining 49%.

The announcement claims that HIAG Solar has at its disposal about 65,000 square metres (699,654 sq ft) of module area to fit 10 MWp of solar power producing capability. The JV's goal is to come to be a significant solar energy producer in Switzerland in the mid-term. It targets a yearly power generation of some 10 million kWh.

HIAG Solar currently has 4 tasks in the drawing board and expects to finish them this as well as next year.

Talking about the strategy, Aventron's chief executive Antoine Millioud noted that HIAG has large roof covering areas in Switzerland, while the property business's own CEO, Marco Feusi, stated that its existing and prepared residential properties are ideally matched for organized development with PV varieties.