Centrotec becomes biggest shareholder of Sonnenstromfabrik

• Centrotec, a German energy efficiency specialist, has actually obtained Switzerland's Pari Group, which holds an 80% stake in German PV module supplier Sonnenstromfabrik.

Centrotec's last contact with the PV industry go back to 2012, when the company-- then still known as Centrotec Sustainable AG-- offered its shares in German solar developer Centrosolar AG, marking its withdrawal from the market.

However, Centrotec Sustainable AG relabelled itself Centrotec SE this year as well as has jumped back into the PV service. The company has gotten Switzerland's Pari Group AG, based in Switzerland, for a price of EUR43 million ($50.9 million).

The Pari Group is a holding company that possesses an 80% risk in CS Wismar GmbH, which is additionally recognized by the Sonnenstromfabrik trademark. It generates glass-glass PV modules, to name a few points. According to Centrotec, these glass-glass panels can be utilized in structures where there is a high proportion of self-consumption. The Pari Group's property portfolio includes Sonnenstromfabrik's manufacturing center in Wismar, Germany.

CS Wismar currently utilizes 110 people, according to Centrotec. It recorded sales of EUR19.4 million as well as an operating revenue of EUR500,000 in fiscal 2019. This year, it expects a significant increase in sales to EUR29.3 million and also an EBITDA of EUR1.2 million.

Centrotec thinks that the enhancing decarbonization in the area of warmth generation as well as progressively dropping rates for battery storage space systems will certainly bring about higher need for PV remedies in the building field-- particularly for full systems that create as well as save power and also warmth. With the acquisition of a bulk stake in Sonnenstromfabrik, Centrotec intends to advance with its efforts to utilize renewable energy to provide warm as well as fresh air in structures.

According to Centrotec, the transaction is still subject to a number of problems, as well as requires to be approved by Germany's Federal Cartel Office. It anticipates to wrap up the bargain at the beginning of the fourth quarter. The final purchase rate will be figured out retroactively, based on net financial responsibilities and web existing assets when the transaction is finished.