Sinosol AG
Sinosol AG:Exclusive agreement about the construction of 50 MWp-PV power stations in Bulgaria

Sinosol AG / Contract

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Sinosol Group has signed an exclusive agreement with the project developer
Plovdiv Solar Ltd. about the turn-key construction of solar parks on a 330
ha ground near Lyubimets. The project site is in south Bulgaria (approx.
41°50′N, 26°5′E) near the border to Turkey and Greece. The
authorities and the utility company have already granted permissions for a
capacity of 50 MWp in the first phase. In a second stage this will be
extended to a total size of approx. 80 MWp. The coherent project site was
divided into several smaller units with 5 MWp each, for the realization of
the PV parks. The 5 MWp parks are sold separately to institutional
investors. Start of construction for the first project will be in the
middle of 2009.

Sinosol Group is responsible for technical planning, the procurement of all
components as well as the turn-key realization and operation for the entire
project.
Plovdiv Solar Ltd. owns the project site and obtained all necessary
permissions for the construction and the feed-in of energy into the grid
from the local authorities.

Bulgaria offers very attractive conditions for solar power. There are 1.500
kilowatt-hours solar radiation per annum per square meter on average. For
comparison: in Germany there are approx. 1.000 kilowatt-hours annually. As
an EU-member Bulgaria has a renewable energy law. This supports the feed-in
of solar energy into the grid, similar as in Germany. Installations larger
than 5 kWp receive a feed-in tariff of 0,37 Euros/kWh. This compensation is
guaranteed by law for 25 years.

'Currently the project is the biggest planned solar park in Bulgaria. We
are glad to have found Sinosol Group as an experienced and reliable partner
for the realization of the PV parks. Sinosol Group has a proven track
record as a planner and turn-key partner and has realized comparable
projects in Europe. This experience and references convinced us.' said
Atanas Tarev, founder of Plovdiv Solar Ltd.. 'Bulgaria is an important new
market for us which has an enormous growth potential and a high
attractiveness for investors as a solar location. With Plovdiv Solar Ltd.
we won a strong local partner, whose engagement and on-site competence
guarantees for the success of the joint realization of the projects' adds
Raphael Krause, member of the executive board of Sinosol AG.

Pictures of the site and details about the project are available on the
project internet page www.plovdiv-solar.com. Interested investors can
request a project booklet from Sinosol AG starting from February.


About Sinosol:
Sinosol Group is an international provider of photovoltaic systems, as well
as a planner and developer of turn-key solar parks. In 2008 Sinosol Group
has planned and realized one of the world’s biggest PV parks with 15 MWp in
the south of Spain. As a German-Chinese group, it benefits from its
established networks in both of its home markets, for procurement as well
as for sales. Sinosol Group’s operations are currently focused on the
European and Chinese markets.

About Plovdiv Solar:
Plovdiv Solar Ltd. is a Bulgarian solar project developer. The company
belongs to the group around the successful entrepreneur Atanas Tarev, who
owns one of the leading enterprises in Bulgaria for waste management and
has entered into the renewable energy sector with Plovdiv Solar Ltd..


Raphael Krause
Member of the Executive Board 

Phone: +49 69 244 0425 0
Fax:   +49 69 244 0425 15
Email: ir@sinosol.com
Web:   www.sinosol.com


09.01.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       Sinosol AG
              Friedrichstr. 8
              70174 Stuttgart
              Deutschland
Phone:        +49 711 722 33 900
Fax:          +49 711 722 33 909
E-mail:       info@sinosol.com
Internet:     www.sinosol.com
ISIN:         DE000A0JEQK6
WKN:          A0JEQK
Listed:       Regulierter Markt in Frankfurt (Prime Standard)
 
Notierung vorgesehen / Designated to be listed
 
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