REC Systems, a business unit of Renewable Energy Corp. (REC), has sold a 6 MW solar power plant that it developed, financed and constructed in Bitterfeld, Germany.
Originally developed by Grune Energien GmbH, the project was transferred to REC Systems' control in September 2011, when it was less than 50% developed. The company says it provided the necessary project development and financing and completed construction of the plant in December 2011, ensuring the plant's eligibility for the higher 2011 feed-in tariff.
The ground-mounted system consists of 27,096 high REC modules installed on 13 hectares, with an annual output of approximately 6,101 MWh. REC Systems sold the project to two investment companies in the Chorus Group and received project financing from Deutsche Kreditbank AG.