Solar Millennium AG (S2M), a German renewable energy developer that filed for insolvency Dec. 21, sold its 2.25 gigawatts of U.S. projects in development to Solarhybrid AG. (SHL)
Solar Millennium sold two project holding companies, including a 70 percent stake in its U.S. unit Solar Trust of America LLC, the Erlangen-based developer said today in a statment. The price wasn’t disclosed. Payment is linked to achieving certain milestones, such as signing power-purchase contracts for the projects.
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