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centrotherm: CEEG Cancels Order to Construct Integrated Solar Module Factory

Date2013/6/17

June 14, 2013 – With a letter dated June 13, 2013, CEEG, a subsidiary of Société Nationale de l’Electricité et du Gaz (Sonelgaz), has notified the consortium consisting of centrotherm photovoltaics AG and Kinetics Germany GmbH that it is cancelling the contract to construct a fully integrated solar module factory in Algeria. The original project volume amounted to around EUR 290 million. The company is examining the effectiveness and significance of this cancellation.

Even a legally effective cancellation would have no negative effects on the planned cash flow of centrotherm photovoltaics AG and the company's future development. Any damage compensation claims against the company would be covered by the insolvency plan.
 

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