Conergy Completes Construction of Asia’s Largest Photovoltaic Plant in Record Time
Hamburg, Germany and Seoul, Korea August 13, 2008

19.6 MW project completely on the grid; expansion to 24 MW already ordered

Large projects in 2008: 81 MW realised up to now, additional 40 MW still in the worldwide project pipeline

* After just 14 months of construction time: photovoltaic plant costing 90 million Euros completed six months ahead of schedule
* Expansion will bring around an additional 20 million Euros

The Conergy Group has successfully completed the construction of what is currently Asia’s largest photovoltaic plant. The 90 million Euro project, with a peak power output of 19.6 MW, is located in the South Korean city of SinAn, southwest of the capital Seoul. Commissioned by the Dongyang Engineering & Construction Corporation, Conergy set up the plant as a turnkey solution and brought it on grid six months ahead of schedule. Dongyang has engaged the Hamburg-based solar energy company now with the expansion of the plant to a total of 24 MW – an add-on order valued alone at around EUR 20 million. Conergy intends to complete this on site yet by the end of the year.

Conergy’s CEO Dieter Ammer: “Just a few weeks ago we successfully sold the fourth largest photovoltaic plant in the world with “El Calaveron” in Spain. The quick completion of the photovoltaic plant in SinAn shows that despite our restructuring we can continue to book large operating successes – and the focus on our downstream core business was absolutely the right decision for our company.”

230 experts have been working around the clock since 12 May last year on the 600,000 m2 construction site in SinAn to erect this Korean lighthouse project. In the meantime, the 19.6 MW plant is completely on grid and producing 27,000 MWh yearly of clean electricity – enough energy for more than 6,000 households. At the same time SinAn is saving 20,000 tons of CO2 yearly.

Jihun Kim, CEO of Conergy Korea: “The construction of what is currently Asia’s largest photovoltaic plant is pioneering for the renewable energies industry in our country. With its completion we are ringing in a new era of Korean energy supply.” The government in Seoul had created the prerequisites for this in 2002. Since then, Korea has been seen as one of the large growth markets for renewable energies in Asia. In 2007 alone, 134 solar energy systems were connected to the public power grid – compared to 2006 a growth of 163%. In total, up to the present day more than 160 MW of solar energy has been installed in Korea, including now “SinAn” as a milestone among the large projects.

Large projects in 2008: 81 MW realised up to now, additional 40 MW still in the worldwide project pipeline

Elsewhere in the world too, the Hamburg-based solar energy company is making good progress with its large projects: In 2008 up to now the Conergy Group was able to complete photovoltaic plants worldwide with a total volume of 81 MW. Since its founding, the company has now successfully concluded large projects with a total output of in total more than 400 MW – including photovoltaic plants with an output of 160 MW and wind farms with an output of 250 MW.

Yet by the end of 2008, Conergy intends to conclude additional regenerative large projects with a total output of around 40 MW. Numerous plants are already in the worldwide project pipeline for future years, including solar projects with up to 300 MW in Germany, Italy, Spain, Greece, the US and Korea. The company continues to plan wind farms in Germany, Australia, France and Turkey. 1,000 MW alone are to be realised via the joint venture with the Australian company Macquarie Capital. In Turkey the Conergy Group submitted 3,000 MW for approval the end of April. With this the Conergy Group is one of the world’s leading companies in the development, project planning and financing of large regenerative projects.

Conergy AG is one of the leading solar enterprises in Europe and with over 70,000 solar systems installed also a global market leader in the field of solar system integration. Listed since 2005 on the Frankfurt Stock Exchange, the group pursues a global growth strategy: it produces, installs and plans solar systems for its customers in more than 20 countries. The Conergy Group is represented by branch offices on five continents.

Source: Conergy