SMA SOLAR TECHNOLOGY AG CONCLUDES SALE OF SMA RAILWAY TECHNOLOGY GMBHSMA Solar Technology AG (SMA/FWB: S92) concluded sale of its subsidiary SMA Railway Technology GmbH today. The buyer is the leading Chinese railway technology group Beijing Dinghan Technology Co., Ltd. The buyer and the seller have agreed not to disclose the purchase price. The transaction will contribute positively to the SMA Group’s earnings in the first quarter of 2017. Against this backdrop, the SMA Managing Board forecasts sales of €165 million to €175 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of €15 million to €18 million for the first quarter of this year. The SMA Managing Board is confirming its sales and earnings guidance for fiscal year 2017 as published on January 26, 2017, which forecasts sales of between €830 million and €900 million and EBITDA of between €70 million and €90 million.
Qazvin provincial officials and Italian investors have signed a deal which will build a 1000-mW solar power plant and photovoltaic panels.
A group of Italian investors visited the province on Sunday and talked to provincial officials to prepare basic conditions to build solar power plant. Mohammad Ali Qasemi a provincial official and deputy-head of Qazvin Provincial Investment Headquarters for Services chaired the meeting held on Sunday; “Qazvin has high potentials in wind and solar energy, and within recent past years, we have negotiated to attract investors to the sector; the present session draws upon agreements made in the meetings before where Italian investors and company representatives hit a deal to meet the needs of the province officially communicated during the meeting,” he told reporters.
“The deal with 9 articles is an agreement where Italian partners will build a solar power plant of 1000mW nominal capacity during a project defined for 10 years with the whole project divided to 100 units of 10mW. The power plants will cost $1.5bn funded fully by foreign investors,” Qasemi detailed.
The session was attended by Mr. Qasemi himself, the CEO of American branch of Italian Genesis Co. Carmelito Denaro and Ali Setayesh, CEO of Middle East branch, and Saeid Behadivand Chegini, directing manager of Gazvin Utilities Regional Co.