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Conergy Group successfully concludes financing for three Spanish megawatt photovoltaic plants

• Solarparks Manzanaras, Herrera and Chinchilla amounting up to 6 MW connected to the grid
• In 2008, a total of four photovoltaic plants with a total output of 26 MW financed
• Total investment volume of all plants amounting to around 218 million euros
• All the major projects connected to the grid at the lucrative feed-in tariff of 45 cents

Hamburg – With the successful conclusion of the financing for the Spanish major projects Manzanares, Herrera and Chinchilla by the HSH Nordbank, the Conergy Group has now financed all the major projects realised in 2008 in Spain via its subsidiary EPURON. The photovoltaic plants, including also the 21.2 MW El Calaverón project sold back in June, were installed promptly and according to schedule and, as such, were connected to the public grid at the still lucrative feed-in tariff of 45 cents per kWh. This assures attractive profits for the future operators of these plants. Having realised and financed no fewer than four major projects, with a total investment volume of over 218 million euros, the Conergy Group is one of the most successful project developers and financers on the Iberian Peninsula in 2008.

"Particularly in the present tense capital market situation, photovoltaic plants are proving to be a highly popular investment. We are experiencing a consistently high demand for our products," says Nikolaus Krane, Chief Projects Officer Conergy AG. "In addition to guaranteed and attractive feed-in tariffs, a decisive factor in making our products so appealing is also the high-quality solar systems. In this regard, as a long-standing market participant, our vast expertise in the project development and financing sector represents a major advantage," adds Nikolaus Krane.

The three plants with an output of two megawatts each are located in the Spanish region of Castile-La Mancha. All the plants are equipped with the biaxial tracking system Conergy SolarOptimus (Chinchilla 1) and Pairan models (Manzanares and Herrera). These produce an annual output of around 12.1 million kilowatt hours of solar energy. Conergy has been operating on the Spanish solar market since 2004 and, since then, has realised and financed major plants with a total output of around 45 MW via its subsidiary EPURON.

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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