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
part
of
the
arrangement
is
subject
to
MEMC's
due
diligence
of
the
contracts
which
the
parties
expect
to
occur
over
the
Log in to read complete article.
