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12.09.2007
Im Rahmen der Veranstaltung wird der sächsische Regierungschef eine Rede an die Gäste richten.
Uhrzeit: 11.00 Uhr
Ort: Bischofswerda
ARISE secures German loan worth 47.05 million euros
2007-09-11 17:03 ET - News Release
Mr. Ian MacLellan reports
ARISE TECHNOLOGIES CORPORATION ANNOUNCES ESTABLISHMENT OF CREDIT FACILITIES OF UP TO 47.05 MILLION EUROS WITH COMMERZBANK
ARISE Technologies Corp.'s wholly owned subsidiary, ARISE Technologies Deutschland GmbH, has completed definitive agreements in respect of credit facilities totalling up to 47.05 million euros with Commerzbank AG.
These credit facilities combined with the previously announced German incentives through the Saechsische Aufbaubank (SAB) and the equity investment by ARISE will be used to construct and equip the 50-million-euro high-efficiency photovoltaic (PV) cell manufacturing plant in Bischofswerda, Germany. The credit facilities totalling 47.05 million euros include a 15-million-euro subsidy bridge loan, a 9.5-million-euro VAT bridge loan, a 12.55-million-euro long-term loan for construction and equipment and a 10-million-euro working-capital line.
The credit facilities are secured by the usual securities regarding credit lines of this type and nature. The availability of the credit facilities are subject to certain standard conditions precedent.
Ian MacLellan, president and chief executive officer, stated: "We are pleased to have Commerzbank as our banking partner in Germany. Their support on this project both in Hamburg at the Center of Competence for Renewable Energies and on local level in the state of Saxony has allowed us to conclude the agreements that will allow us to build our first manufacturing plant at our site in Bischofswerda."
"The Commerzbank's renewable energies and corporate finance team is dedicated to providing the credit arrangements for companies that have both a compelling technology story in the renewable energy space and the ability to execute on their objectives," stated Christian Schulz, assistant vice-president, Commerzbank. Thomas Klatte, vice-president, Commerzbank, further commented: "We have been very impressed with the partners ARISE has chosen in constructing the manufacturing facility and in procuring the equipment. We are excited to be a key financing partner for ARISE."
About Commerzbank
Since taking over Eurohypo, Europe's largest institution specializing in financing real estate and public-sector projects, Commerzbank has been Germany's second-largest bank and one of the leading banks in Europe. Its consolidated balance sheet total stands at 608 billion euros. Approximately 36,000 employees, 8,725 of them active outside Germany, look after more than eight million customers worldwide.
ARISE building $72.74-million solar plant in Germany
2007-09-12 11:06 ET - News Release
Mr. Ian MacLellan reports
ARISE BEGINS CONSTRUCTION IN BISCHOFSWERDA
ARISE Technologies Corp., a Canadian solar cell manufacturer, is breaking ground on its new facility in the Saxon city of Bischofswerda, Germany. The 50-million-euro ($68.95-million (U.S.), $72.74-million (Canadian)) investment will employ up to 100 people. This investment is the company's first entry into the German and European markets, and ARISE Technologies is one of numerous companies to choose Eastern Germany as a site for photovoltaic investment.
Until recently, the Toronto-based company only had a pilot line running in Canada. With its investment in Bischofswerda, ARISE Technologies is expanding into serial production while also establishing its presence in the European market.
"We are pleased to begin the construction of our plant in Bischofswerda," noted ARISE Technologies' chief executive officer, Ian MacLellan. "Once completed, it will be able to house three production lines with an annual capacity of up to 125 megawatts."
Invest in Germany, under its former name Industrial Investment Council, advised ARISE Technologies with its investment decision. Germany's official investment promotion agency convinced ARISE Technologies to begin serial production outside of Canada by showing the company the advantages of an investment in Germany, including access to skilled and flexible labour, a presence in the world's largest photovoltaic market, and the availability of investment incentives.
"ARISE is one of many companies in the PV field to make an investment in Germany in recent years. They are not only attracted by the skills of German employees and the proximity to other European countries, but also by the favourable legal framework in Germany. Germany's Renewable Energies Act sets a 'feed-in-tariff' for energy harnessed from renewables sources that is particularly favourable toward PV," noted Ralf Segeth, senior manager with Invest in Germany and principal adviser to ARISE Technology.
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Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
41 | 12.138 | ARISE die canadische Solarperle ! | Triloner | brunneta | 24.04.21 23:15 | |
13 | Kommt Arise mir neue Namen ? | hammerbuy | hammerbuy | 28.09.12 07:40 | ||
4 | 171 | Arise Technologies die canadische Solarperle ! | Bulanz | halbfinne | 03.09.12 15:51 | |
37 | SK Can 0,295 | Septembersonne | tobytop | 04.11.10 13:58 | ||
31 | ARISE - Investment in Solarenergie ! | Lady Blue | Triloner | 22.12.09 11:33 |