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27.12.2010
International Solar Systems PLC has to postpone the project start in Italy to 2011 and needs to renegotiate financing deal
International Solar Systems PLC has to postpone the project start in Italy to 2011 and needs to renegotiate financing deal

Frankfurt on the Main, Germany, (Dec. 27th, 2010) –International Solar Systems PLC (“ISS PLC” or “the Company”), (Symbol: LIA.F WKN: A1CVJ5) ISS PLC is a Solar power company that is focused on the production of clean sun power through solar farms.

ISS PLC has to announce that the start for the project in Messina as the first project in Italy has to be postponed to the first quarter of 2011. ISS PLC has received the message from the contracted implementation partner that the originally promised time schedule with a grid connection in 2010 could not be achieved due to delays in the permit procedure and the sourcing of hardware components. Due to the changed plans for 2010 the already announced financing commitment for up to 10 million Euro could not be used as planned and needs to be renegotiated and confirmed with the financial institution – The financing partner has confirmed his interest to support “green energy projects” and has offered ISS PLC to negotiate a new financing package in January 2011. A positive side effect of the delay might be the cheaper module- and hardware prices in the next year.

Kontakt:

Mr. JÖRNSchmidt
Internatioanl Solar Systems GmbH
Oher Weg 3
21509 Glinde
Telefon: +49 40 64226410
Corporate Email: info@internationalsolarsystems.com
Website Address www.internationalsolarsystems.com


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