SonnenEnergy Corp. Announces Receipt of Notice of Cancellation of Mietkauf Contracts (the "Hire Purchase Agreements")
January 25 2011 - 4:31PM
Marketwired
SonnenEnergy Corp. (TSX VENTURE: PWR) ("SonnenEnergy" or the
"Company") announces that Hypo Group (Alpe Adria) has given notice
of cancellation of its Hire Purchase Agreements with the Company's
subsidiary, SonnenEnergie GmbH, pursuant to which the photovoltaic
installations situated at Tutzing, Habach, Hechendorf and
Waldstetten in Germany were financed, alleging default of payment
by SonnenEnergie GmbH, and has demanded payment in accordance with
the terms of those contracts.
SonnenEnergie GmbH has disputed the validity of the cancellation
of the Hire Purchase Agreements and is attempting to resolve the
issues with Hypo Group (Alpe Adria).
About SonnenEnergy Corp.
SonnenEnergy is a solar power systems integrator and solar power
producer. The Company markets, sells, designs, installs, operates,
and maintains grid-connected solar power systems and, since 2004,
has installed more than 200 photovoltaic (PV) solar power systems
for commercial and residential customers. The company also operates
solar power plants in southern Germany, which have total installed
capacity of more than 7.0 MWp. SonnenEnergy's European operations
are based in Polling, Germany, with a sales office in Italy.
Forward-Looking Statements
This press release contains or refers to forward-looking
information, including statements regarding the ability of the
Company to resolve the issues with Hypo Group (Alpe Adria), and is
based on current expectations that involve a number of business
risks and uncertainties. Forward-looking statements are subject to
significant risks and uncertainties, and other factors that could
cause actual results to differ materially from expected results.
Readers should not place undue reliance on forward-looking
statements. These forward-looking statements are made as of the
date hereof and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by law.
Contacts: SonnenEnergy Corp. Hans Hager President and Chief
Executive Officer +49-881-924513-0 hhager@sonnenenergy.com
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