 | 19.04.2010
Scatec Solar acquires the remaining 33.33% of Signo Solar S.R.O.
Scatec Solar acquires the remaining 33.33% of Signo Solar S.R.O. to make it a fully owned subsidiary
Oslo, April 19th 2010
Scatec Solar, a global turn-key supplier of solar PV (photovoltaic) solutions, has acquired the remaining 33.3 % of the equity interest in the Czech Republic Solar PV company Signo Solar S.R.O, making it a fully owned subsidiary, subsequently renaming it, Scatec Solar S.R.O
- Scatec Solar envisions the Czech market to be one of the most interesting markets in Europe. We have major projects under development in the Czech Republic, and gaining full control of Signo Solar with its highly experienced team, strong market knowledge, and execution oriented approach will enable us to fully emerge into the Czech marketplace, Mr. Raymond Carlsen CEO of Scatec Solar said.
- The acquisition will secure our company’s ability to leverage on our substantial European PV experience in order to become a leading provider of commercial PV solutions in the Czech Republic and other European markets, Mr. Carlsen said.
About Scatec Solar
Scatec Solar is a global turn-key supplier of solar PV solutions, with headquarters in Oslo, Norway. It was established in 2007 by Dr. Alf Bjorseth, the founder of, among several other renewable energy initiatives, Renewable Energy Corporation, one of the world’s largest integrated solar energy enterprises.
Scatec Solar has fully owned subsidiaries in Germany, France, The Czech Republic, Italy, US and India. In addition to having developed more than 67 MW of grid-connected solar parks and roof-top installations in Europe and the US, Scatec Solar is engaging in rural electrification in emerging markets, emphasized by the inauguration in January 2009 of two Community Solar Power Plants (CSPPs) in two villages in Uttar Pradesh, India.
Contact:
Mr. Sven Rost, VP Communications, tel: +47 932 53 196
sven.rost@scatec.no
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