Solarhybrid Buys Solar Millennium’s 2.25-Gigawatt U.S. Pipeline

Solar Millennium AG (S2M), a German renewable energy developer that filed for insolvency Dec. 21, sold its 2.25 gigawatts of U.S. projects in development to Solarhybrid AG. (SHL)

Solar Millennium sold two project holding companies, including a 70 percent stake in its U.S. unit Solar Trust of America LLC, the Erlangen-based developer said today in a statment. The price wasn’t disclosed. Payment is linked to achieving certain milestones, such as signing power-purchase contracts for the projects.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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