SunEdison Acquires Business Institute Solar Strategy

SOLAR DAILY

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by Staff Writers
Hamburg, Germany (SPX) Jan 26, 2009
SunEdison has announced the acquisition of Business Institute Solar Strategy GmbH (BISS), with offices in Hamburg, Germany and Brescia, Italy.

The transaction provides SunEdison with 38 MW of solar photovoltaic (PV) projects under development in Italy and Spain and direct access to 300 MW of project opportunities in Europe.

SunEdison has more than 68 MW of solar under management globally, with 9 MW of PV systems in Spain. Terms of the deal and projects were not disclosed.

In addition, SunEdison named BISS managing director Gerwin Dreesmann, as General Manager, Europe.

"The BISS acquisition, which provides SunEdison direct access to 300 MW of project opportunities, accelerates our European expansion. Gerwin and the BISS team have an excellent reputation in Germany and unparalleled insight into the European market. They share our rigorous focus on quality assurance in system execution and delivery of solar services. I look forward to working closely with Gerwin as he oversees our operations in Europe," noted Carlos Domenech, COO and CFO, SunEdison.

The company has offices in the United States, Canada, Spain, Italy, France and Germany.

"We have worked closely with SunEdison since early 2008 in establishing European operations. I am proud to join the SunEdison global team and bring this successful cooperation to the next level. SunEdison pioneered the solar energy services model in North America and continues to create innovations in financing, design and construction, and long-term operation of PV systems. This will allow us to bring these innovations and our industry-leading quality assurance standards to current and future customers throughout Europe," said Dr. Dreesmann.

BISS was founded in 2007 by Dr. Dreesmann, a renowned expert in the analysis, delivery and operation of maximum-performance photovoltaic energy systems. Prior to launching BISS, Dreesmann, a 15-year energy industry veteran, previously served as managing director for SunTechnics and BP Solar.

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