Solar Systems seeks extension

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Friday 11/12/2009 Page: 5

EMBATTLED renewable energy company Solar Systems could be placed in liquidation as early as Monday unless creditors agree to extend the deadline for an agreement with potential buyers. BusinessDay believes the administrator, PricewaterhouseCoopers, has received a preliminary offer for the company. Solar Systems, which was to build a 154-MW solarfarm near Mildura, went into voluntary administration in September after failing to attract another investor for the $420 million project. Solar Systems administrator Stephen Longley said an extension would be sought at a meeting of creditors on Monday.