EUROVOLTAIC PLC
Eurovoltaic Plc announces incorporation of Eurovoltaic Hellas S. A. continuing its pan-European growth strategy
EUROVOLTAIC PLC / Strategic Company Decision Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Eurovoltaic Plc (ISIN / GB00B27W8208), a UK alternative energy company announces that Eurovoltaic Hellas S. A. was incorporated as wholly owned subsidiary on Febr. 5th, 2008 and registered with the Greek registration office in Nafplio. Dirk Volkmann, COO of Eurovoltaic, has been appointed CEO of Eurovoltaic Hellas S. A. which focuses on running large-scale solar power plants with a capacity of over 10 megawatts both on the Greek mainland and the islands. Favourable legal framework conditions which exist for renewable energy in Greece render the location interesting to operate solar farms. Eurovoltaic Hellas S. A. will begin to design and construct power plants with a capacity of over 50 megawatts before the end of the year. Eurovoltaic Hellas S. A. is supported by an experienced team of engineers. 'On the European scale the location of Greece currently qualifies best for generation of green solar electricity,' says Dirk Volkmann, Director of Eurovoltaic Hellas S. A. The long-term compensation for electricity fed into the grid and high irradiance are ideally suited for supplying households with solar electricity. 'By running solar farms in Greece we will reduce carbon dioxide emissions and contribute to a healthy climate.' Eurovoltaic Plc will make a capital increase this year for funding the procedures planned. 'An IPO in favourable capital markets is also conceivable,' states Mark Blundell, CEO of Eurovoltaic Plc. Eurovoltaic Plc is already in possession of a solar power plant with a capacity of 2.8 megawatts peak located nearby Griesheim, Germany, and in cooperation with Systaic Iberia S. L. is constructing several solar power plants in Cordoba with a total capacity of 22 megawatts peak. Construction projects are scheduled for connection to the Spanish grid by September 2008, supplying green electricity to Spanish households. Eurovoltaic Plc is a UK-incorporated public limited company in the business of energy production. Eurovoltaic aims to design, acquire and operate several European solar plants and to market electricity to the local energy producer – who under applicable European law – is bound to accept electricity from privately held energy producers. Eurovoltaic Plc Tower 42 25 Old Broad St. London EC2N 1HN www.eurovoltaic.eu +44-(0)207 877 0032 United Kingdom Phone: +44 (0) 207 877 0030 Fax: +44 (0) 207 877 0031 www.eurovoltaic.eu mailbox@eurovoltaic.eu Investor Relations: ZHT Treuhand GmbH Schadowstr. 11e D-40212 Düsseldorf Germany Phone: +49 (0) 211 30 187-0 Fax: +49 (0) 211 30 187-187 www.zht.de 07.04.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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