EUROVOLTAIC PLC
Investor Eurovoltaic PLC acquires solar power plant /Follow-up order for 30 megawatt peak projects in Spain signed
EUROVOLTAIC PLC / Alliance 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. ---------------------------------------------------------------------- London / Griesheim, 26.09.2007 – Eurovoltaic PLC (ISIN GB00B27W8208) has taken over a solar power plant with a nominal power of 2.500 kWp in Griesheim 'Peterswiese', near Darmstadt in presence of Right Livelihood Award (RLA) winner and member of the Bundestag Hermann Scheer and other prominent guests from Politics and Economy. In the course of next week the plant will become operative and by the end of this year the rated power will expand up to 2.800 kWp. Installation and completion were accomplished by Systaic Deutschland GmbH, a subsidiary company of Systaic AG (ISIN DE000A0JKYP6). Subsequent to this event Mark Douglas Blundell, CEO Eurovoltaic PLC, and a representative of Systaic Iberica S.L.U. signed a general agreement on construction of solar power plants in Spain featuring a total volume of up to 30 megawatt peak. Mark Blundell, CEO from Eurovoltaic PLC says: 'With this contract we have positioned ourselves on a safe market for institutional investors and created conditions for above average increase. We will accomplish a new asset category that guarantees maximum security and eliminates default risks. The decision for a close and long-term collaboration with the Systaic Group, whose quality and productive capacity is absolutely satisfying, has been reaffirmed today with our solar power plant here in Griesheim. Therefore the Systaic Group appears to us as the ideal partner on this section, based on their strategic positioning, as well as strong performance and know-how in production. They are already leaders in this area with their new generation of solar panels and manufacturing technology compared to competitors. With the business of solar power plants and investment proposals for investors coalesced in one segment Eurovoltaic PLC acts with varying demands.' The quantity of order, which has been agreed by contract today, amounts 165 million Euros and is planned to be transacted by the end of 2008. The first segment is going to be constructed this year. 'The crystalline solar panels for this project will be produced in large part in our factory in Landsberg', reports graduate engineer Mr. Olaf Achilles, CEO of Systaic. Core business of Eurovoltaic PLC, whose strategy of growth will be pursued consequently, is the purchase and establishment of solar power plants. The company produces solar energy and offers the chance for investors to join in capital investments with a guaranteed income return. Among others the investor benefits from state purchase commitment for electricity out of solar power production. Primary aim is to use the power of the sun there where it has a high efficiency to be changed into solar energy. Within its trans-European activities Spain is focus regarding solar energy production (3000 sun hours p.a.). Here Eurovoltaic buys and conducts turnkey ready and high effective constructions of solar power plants. fon: 0049 211 - 30 187-0 fax: 0049 211 - 30 187-187 mailbox@eurovoltaic.eu 26.09.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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