AEG Power Solutions sells skytron-energy subsidiary to First Solar

By Caroline Salls

Pittsburgh, June 3 - AEG Power Solutions sold its skytron-energy subsidiary to First Solar, according to a company news release.

Terms of the deal were not disclosed.

AEG said Berlin-based skytron provides utility-scale photovoltaic power plant management systems, operations and maintenance services, data monitoring technology and equipment to solar power plants worldwide and had been acquired by AEG in 2010.

The company said the divestiture of skytron-energy is a significant step in the reorganization program that AEG has implemented since the beginning of the year.

"Our operational reorganization process is being rolled out according to our forecast and we are refocusing our business on its core activities," AEG chief restructuring officer and board member Jeffrey Casper said in the release.

"skytron benefits from the reach of First Solar's powerful sales and service network, as well as its installed base. This deal opens a wealth of prospective of growth and development for all parties."

skytron-energy will operate as a First Solar subsidiary under its own brand name, and all current employees will remain in the organization, the release said.

AEG is a Zwanenburg, the Netherlands-based global provider of power electronics systems and solutions for industrial power supplies and renewable energy applications.

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