Press archive - Detail

SolarWorld AG sells 65 per cent of the Swedish module subsidiary GPV to Borevind AB

IPO planned for 2008


SolarWorld AG is selling the majority of its Swedish subsidiary Gällivare PhotoVoltaic AB (GPV) to the Swedish company Borevind AB. Both partners signed a purchase contract for 65 per cent of the company’s shares. The purchase will become effective at the end of the year 2007. An IPO is planned for 2008. SolarWorld AG will remain a shareholder in the Scandinavian module manufacturer with a stake of 35 per cent. GPV operates a manufacturing facility for solar power modules with a capacity of 30 MW in Gällivare in Northern Sweden that has been in the possession of the SolarWorld Group since 1999. The existing supply relationships between GPV and SolarWorld will be maintained in 2008 and beyond. Information and Explaination of the Issuer to this News: Manager-Magazin pays tribute to SolarWorld AG’s earnings power Earnings power is one of the central features of SolarWorld AG. This was shown by an analysis of 'Manager Magazin' performed on the basis of the figures of the 2006 fiscal year. The business journal paid tribute to the group as one of the most profitable companies in Europe. Of the 500 largest European stock corporations analyzed SolarWorld AG reached third place and was the best company in the industrial goods sector. About Borevind: Borevind AB (publ) is Sweden’s first and only investment company in the renewable energy sector to go public. Borevind invests in unlisted companies developing products or services within renewable energy, an area of rapid technological advancement and with great potential. Borevind is not a high risk capital venture. The strategy is long-term and based on acquiring interests in low risk companies. Borevind will invest in companies active within energies such as wind, solar, bio-fuels, fuel cells, waste heat, geothermal energy, wave power. The need for alternative sources of energy will grow and renewable energy will be of paramount importance for future provision of energy and its competitiveness will improve due to future development of technologies and globally increasing prices of all categories of energy. The Borevind investment portfolio comprises companies within wind farm development, solar energy systems, bio fuel heating. The company’s head office is based on Henån, an island on the Swedish West coast archipelago. The Borevind share is traded on the Stockholm Stock Exchange, OMX First North. About SolarWorld AG: The SolarWorld AG group of companies (ISIN: DE0005108401) is a world leader in high quality solar power technology. The company is involved at all levels of the solar value chain and combines all activities of the industry from silicon as the raw material to turn-key solar power system. SolarWorld AG is represented in all international solar growth markets. The group is exclusively dedicated to its core business of photovoltaic power generation, operating production facilities in Germany and the USA. They in turn supply the SolarWorld AG sales offices in Germany, Spain, USA, South Africa and Singapore. In South Korea SolarWorld AG is currently building up a solar module production facility in order to be able to serve the growing demand in Asia on the spot in the future. A central element of the business in addition to the sale of turn-key solar systems and solar modules to retailers is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products the SolarWorld Group also sells off-grid solar power solutions that make an important contribution to the sustainable economic development of threshold and developing countries. Under the name Solar2World the group has pooled its ethical commitment to solar power especially in developing countries. SolarWorld AG employs more than 2,000 people worldwide. At the stock market the company is listed among others in the technology index TecDAX, in the ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI index as well as in the sustainability indices DAXglobal Alternative Energy and NAI.SolarWorld Press contact SolarWorld AG Martin-Luther-King-Straße 24 53175 Bonn Germany Contact Investor Relations: Tel.-Nr.: 0228/55920-470 Contact Press: Tel.-Nr.: 0228/55920-459 Fax-Nr.: 0228/55920-9470 E-Mail: placement(at) Internet:


  • SolarWorld leads the way

    By means of the SolarWorld Einstein Award.


    Interested in receiving information on a regular basis? Register for our press distribution list


    SolarWorld brochures available for download as PDF documents

    Locations Worldwide

    Present in all important markets.

  • Guaranteed performance

    SolarWorld offers 25-year linear performance guarantee.


    Interested in receiving information on a regular basis? Register for our press distribution list

    Commitment to sustainability

    SolarWorld combines economic success with social responsibility and signed up to the Global Compact.