Solar World AG sold the majority of its Swedish subsidiary Gallivare PhotoVoltaic AB (GPV) to the Swedish Borevind AB. Both partners signed a purchase agreement for 65 percent of the shares. The purchase will be at year-end 2007 effective for 2008 is a planned initial public offering. Solar World AG remains at 35 percent in the Scandinavian module manufacturer. GPV northern Gallivare maintains a production for solar power modules with a capacity of 30 MW, which since 1999 in possession of the Solar World Group found. The existing supply relationship between PRG and the World Solar 2008 and remain in subsequent years. About Borevind: Borevind AB (publ) is the first and only investment company of Sweden in the field of renewable energies, to the stock market is gone. Borevind invests in the OTC traded companies, products and services in the market for renewable energy development, an area of rapid technological development, which is a great potential.
Borevind is not an investment company that invests risky. The strategy is long-term and based on the acquisition of stakes in companies with low risk. Borevind invests in companies that operate in areas of energy such as wind power, solar energy, bio-fuels, fuel cells, heat, geothermal, wave energy and other sectors. The need for alternative energy sources will grow and will in the future energy supply of paramount importance. The competitiveness of renewable energies will be improved by future developments in technology and rising world prices for all types of energy continue to improve.
The investment portfolio of Borevind includes companies that are developing wind farms, solar energy systems and heating with bio-fuels devote. The head office of the company is in Henan, an island in the archipelago off the Swedish west coast. The share is Borevind on the Stockholm Stock Exchange, OMX First North, traded. About Solar World AG: The Group of Solar World AG (ISIN: DE0005108401) is the world’s leading trio of the solar power industry. The group is exclusively in the core business of solar power technology and all forms solar value chain – from raw materials to turnkey silicon solar power plant -. The company has manufacturing facilities in Germany, Sweden and the United States. In California is the largest manufacturing solar modules and in Oregon’s largest wafer production for solar cells and the United States. In Freiberg in Saxony the group operates one of the most modern integrated Solarfertigungen the world. The current main markets include Germany, the United States and the rest of Europe, particularly Spain. Sales office in Germany, Spain, California, South Africa and Singapore serve the international solar markets. The Solar World Group sells internationally grid-connected solar power in addition to products increasingly rural solar power solutions, which will make an important contribution to sustainable economic development in rural areas. After the IPO at the end of 1999, the company within a few years become one of the largest integrated solar technology groups. At the end of the 3rd Quarter were 1,969 people for the group. Solar World AG is the stock market, among others, the technology index Tec DAX, in OkoDAX, the Dow Jones STOXX 600, in the international MSCI index and the sustainability indices DAX global Alternative Energy and NAI noted.
In addition, committed to the World Solar on the social level to the idea of sustainability and to raise awareness of the resources and climate protection.
Manager magazine commends yield strength of the Solar World AG
Earnings strength is one of the central features of the Solar World AG. This is an analysis of the “manager magazine” on the basis of the figures for fiscal year 2006. The magazine praised the group as one of the ertragsreichsten companies in Europe. Of the 500 largest analyzed stock companies in Europe reached the Solar World AG and the third place was the best companies in the industrial goods sector.