SonnenEnergy Corp. Announces Receipt of Notice of Cancellation of Mietkauf Contracts (the "Hire Purchase Agreements")
March 31 2011 - 3:51PM
Marketwired
SonnenEnergy Corp. (TSX VENTURE: PWR) ("SonnenEnergy" or the
"Company") announces that Hypo Group (Alpe Adria) has, further to
its 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), and its demand for
payment, has now applied for the opening of insolvency proceedings
related to the assets of SonnenEnergie GmbH in a court in Germany.
SonnenEnergie GmbH has continued to dispute the validity of the
cancellation of the Hire Purchase Agreements and shall be resisting
the application.
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.
Contacts: SonnenEnergy Corp. Hans Hager President and Chief
Executive Officer +49-881-924513-0 hhager@sonnenenergy.com
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