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Conergy AG opens subsidiary in Australia

Conergy AG has now opened its own subsidiary on the Australian continent in order to be closer to its customers there. "The wide range of Conergy products is meeting a growing demand in Australia that has already generated some initial framework agreements. The continent's economic power, climate and size create the basis for enormous growth potential, particularly for innovative solar system solutions such as cooling systems in buildings and autonomous power supplies," states Hans-Martin Rüter, CEO of Conergy AG.

Christian Langen, 32, the new director of Conergy Pty. Limited, based in Sydney, is experienced in business development. This German-born MBA and entrepreneur has already lived and worked in Australia for two years.

Within the current year, Conergy will be deciding whether to develop a new production facility in Australia. The Australian solar market is enjoying better than average growth both in photovoltaics and in solar thermal. In 2004, the volume rose to 55 megawatts (MWp) of photovoltaic output, representing growth of more than 20 %. Sales of solar thermal collectors were up by around 30 % to more than 45,000 systems. Conergy plans to serve this attractive solar market with its high-quality products and innovative services, through its own locally based organisation that can respond to customer needs.

With revenues topping EUR 285 million (anticipated for 2004) and currently around 400 employees, Conergy is one of the leading solar enterprises in Europe. The Conergy group is pursuing a customer-focussed global growth strategy that aims to offer every energy consumer the best-suited technology in the attractive renewable energy markets. As well as its market entry in Australia, the Conergy group has already opened a new subsidiary in Portugal in 2005. Accompanying its expansion into the most promising solar markets worldwide, Conergy is also planning a customer-oriented diversification of its product range. Through this strategy, Conergy will achieve a better balancing of temporary demand fluctuations in regional markets. To achieve further expansion overseas and widen its product lines with complementary technologies, Conergy is also considering business acquisitions at home and internationally.

About Conergy
Since its founding in 1998, Hamburg-based Conergy AG has sold more than a gigawatt in renewable energy, making it one of the biggest suppliers of solar energy and other renewable energies, and a world leader in solar system integration. Of the one gigawatt in renewable energies, Conergy has installed more than 400 megawatts in its major projects, Of the total one gigawatt, 200 megawatts falls to its wind energy park projects and 800 to its globally marketed solar modules. Calculative one in ten modules worldwide was produced, sold or installed by Conergy. Listed on the Frankfurt Stock Exchange since 2005, the group pursues a global growth strategy, The company now produces, installs and designs solar power systems and wind turbines in around 15 countries. The Conergy Group is represented with its own branches on four continents.

Conergy Australia is a key player in the Australian renewable energy market, manufacturing and supplying high efficiency solar hot water, solar power and small wind power solutions. With an Australia-wide distribution network, state sales offices and warehousing in 4 key locations around the continent as well as in-house dedicated renewable energy engineers and sales teams, the company has become an important part of the Australian industry since it began operations here in 2005.

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