Solar Developer Edisun Announces Loss, Citing Currencies, as Sales Double

Edisun Power Europe AG (ESUN), a Zurich- based developer of solar plants, announced a net loss of 1.07 million francs ($1.2 million), citing currency pressures and a “one-off impairment on projects and solar modules.”

Sales for the 2010 business year increased 120 percent, Edisun Power said today in an e-mailed statement. Edisun Power generates 64 percent of its earnings from electricity sales across Europe compared with 57 percent in 2009, it said.

Due to its size, Edisun is not yet able to exploit the growing solar market and will ‘‘call on the aid of strategic partners” in the coming 12 months, the company also said. Its shares have risen 20 percent this year.

To contact the reporter on this story: Leigh Baldwin in Zurich at lbaldwin3@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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