PHOTON International The Photovoltaic Magazine

EECH plans 5 MW system

European Energy Consult Holding AG (EECH) is a Hamburg, Germany-based company active in the renewable energy business. EECH claims that it is on the verge of realizing a 5 MW PV project in the German state of Saxony. The property and building permits have already been acquired, it says.

Although EECH prides itself on its »cooperation and joint ventures with partners from the manufacturing industry,« a particularly valuable relationship »considering the current limited supply of solar modules,« apparently, the company doesn't seem to have direct access to the coveted devices. Development and construction in Dresden is slated to take two to three years – an extremely liberal schedule considering the permit phase is nearly complete and the fact that feed-in tariffs continue to decrease on an annual basis. Investment for the 5 MW project is estimated at €23 million ($29.8 million).

EECH is a subsidiary of P&T Technologie Holding AG, also based in Hamburg. P&T increased its share of EECH in Jan. 2004 from 55 to 100 percent. Apparently, the company had already planned to make this move in 2002, but stopped it: at that time, P&T was in serious distress, as the company's stock value turned into a »penny stock.« Shortly after P&T completed its takeover, EECH chairman Michael Bode was appointed a board member of P&T.

EECH is not only active in Germany. The company says it has invested recently in two planned PV systems with a total of 1.3 MW in Los Cabezos, Spain, as well as acquired project rights for a solar thermal power plant in Palma del Rio, which is slated in a first step for 50 MW.

The company has acquired capital for its activities through its Euro Solar Bond and is promising investors an attractive rate of return: with an investment of a minimum of €5,000 ($6,480), the bond is advertised to enjoy a fixed interest rate of 8.25 percent. In April, the company founded a »solar subsidiary« named GSS Global Solar Systems GmbH, which should focus on »Europe-wide acquisition of promising solar projects,« as well as take care of financing and sale to investors.