Aug 29 2008
Day4 Energy Inc., a leading manufacturer of high performance, cost-effective solar electric modules, today announced the strategic partnership with CERTUS Life Cycle AG (CLC) to finance photovoltaic (PV) power generation projects in Europe with a specific focus on the expanding Italian market. Under the arrangement Day4 Energy will leverage its industry leading solar module technology and extensive network of system integration partners to develop turnkey PV power generation projects commissioned and funded by CLC.
CLC is a German based finance company that recently added PV power generation projects to its existing investment portfolio of insurance products. The strategic partnership between the parties provides Day4 Energy with direct access to a new vertical market of investor funded solar power generation projects. In return, CLC will benefit from Day4 Energy's industry leading technology, which delivers premium return on invested capital performance. With a number of projects under consideration both companies expect the co-operation to translate into tangible business in the near future.
"Having undergone a significant amount of due diligence we feel that Day4 Energy's ability to combine the installation expertise of its channel partners with superior field performance of Day4 Electrode modules creates a highly attractive investment proposition for our investors." says Mr. Sibold, chief executive officer of CLC.
Investor funded solar power generation projects represent a very rapidly growing vertical market. The model is expected to prove particularly attractive in markets like Italy that benefit from a strong natural solar resource as well as favorable government subsidies that provide increasingly attractive long-term project returns due to escalating grid power prices.
"I am excited about this strategic co-operation with CLC. It will allow us to deliver premium investment opportunities to the fund's shareholders as well as to create numerous project opportunities for Day4 Energy and its channel partners", said George Rubin, president of Day4 Energy. "Solar energy is the business of pre-paid electrical power. As a result of that, financing is an integral part of the solution that also includes technology, system design and installation. We already have industry leading module technology and our channel partners are the best PV system experts in the field. By working together with CLC we are looking to complete the puzzle."