Hamburg, 27. April 2009 – Conergy will begin legal action to contest the 10-year contract to supply solar wafers to its plant in Frankfurt (Oder) agreed with the US company MEMC Inc. at the end of 2007. The basis for this legal action is a number of invalid and, in particular, anti-competitive contractual provisions, which Conergy believes render invalid the entire contract.
In order to reach an out-of-court solution, Conergy initiated talks with MEMC at the beginning of 2009. These talks led to an agreement on the financial conditions of the future cooperation, but stalled due to various auxiliary conditions. As it was not possible to find a solution, Conergy will file for the invalidity of the contract by declaratory judgment in New York City.
The current market situation enables Conergy to nevertheless secure silicon supply for its production plant in Frankfurt (Oder). Thus the capacity utilization planned for the factory is ensured in order to safeguard supply for Conergy’s sales units with premium modules (Conergy Power Plus).
About Conergy
Since its founding in 1998, Hamburg-based Conergy AG has sold more than a gigawatt in renewable energy, making it one of the biggest European suppliers of solar energy and other renewable energies, and a world leader in solar system integration. Of the one gigawatt in renewable energies, Conergy has installed more than 400 megawatts in its major projects, Of the total one gigawatt, 200 megawatts falls to its wind energy park projects and 800 to its globally marketed solar modules. According to the German Solar Industry Association (BSW) this is just under a fifth of the entire installed photovoltaic output in Germany. Calculative one in ten modules worldwide was produced, sold or installed by Conergy.
Listed on the Frankfurt Stock Exchange since 2005, the group pursues a global growth strategy, The company now produces, installs and designs solar power systems and wind turbines in around 15 countries. The Conergy Group is represented with its own branches on four continents. |