* Conergy to design plants, supply components
* Buys UK solar project rights worth 200 mln pounds
* Strikes $60 mln financing deal
FRANKFURT, July 7 Solar group Conergy
and German utility RWE have struck a deal to lease out
solar systems for a monthly fee, hoping commercial clients will
install the technology on factories, warehouses and offices to
lower their energy bills.
Under the partnership, RWE will market solar systems with a
peak output of between 50 and 200 to existing and new customers,
while Conergy will design the plants, supply components and
offer operations and maintenance services.
No financial details were disclosed.
"Conergy's global strategy has moved to focus on overcoming
the biggest barriers to the wider adoption of solar. Business
customers want flexible finance options, and they also want
investment certainty," Conergy Chief Operating Officer Alexander
Gorski said in a statement on Monday.
The deal comes as RWE scrambles for new business
opportunities as it labours under a 31.5 billion euro ($42.3
billion) debt pile and tepid demand in its core European market.
Conergy, majority-owned by Miami-based asset manager Kawa
Capital Management, said the service would initially start in
Germany, where pilot projects have resulted in average energy
cost savings of 10 percent.
Conergy also said it had acquired a portfolio of rights to
solar projects from British renewables group Lumicity that, on
completion, would have a potential value of about 200 million
pounds ($340.3 million).
In addition, Conergy said it would build a 21 megawatt peak
(MWp) power plant in the suburbs of Bristol, western England,
raising Conergy's total capacity additions in the UK to 126 MWp
To finance further growth, Conergy said it had agreed a $60
million bank guarantee facility arranged by Deutsche Bank
and financed by Tennenbaum Capital Partners.
($1 = 0.5877 British Pounds)
($1 = 0.7331 Euros)
(Reporting by Christoph Steitz; Editing by David Holmes)