The contract was due to continue until 2018 and Conergy will pay $21m to MEMC to immediately terminate it. The Hamburg-based firm will also settle outstanding payables in the amount of $5.5m.
In addition, Conergy has agreed to transfer to MEMC its portfolio of operations and maintenance contracts covering solar power plants in Germany, Italy and Spain representing up to 175MW in generating capacity, according to MEMC.
This
