Conergy AG acquires Australian solar wholesaler Quirk

Hamburg, 19 September 2005. With its acquisition of solar wholesaler Quirk's Victory Light Co. Pty. Ltd., Sydney, Conergy (ISIN DE 00060 40025) is tapping into a customer pool of 120 additional Australian solar installers, thereby consistently developing its presence on the fifth continent even further. Following the founding of the subsidiary in January 2005, the opening of a SunTechnics branch and the acquisition of Taurus Energy Pty Ltd by voltwerk, Conergy, Germany’s largest solar company, has established its customer-oriented brand environment that has proven effective in Europe in the market Down Under as well. Quirk’s Victoria is one of the largest solar dealers, with revenue exceeding AUS$2 million. “Australia is an attractive and fast-growing market with a high export potential to Southeast Asia. Conergy has the right products and enough buying power to satisfy Australian customers over the long term. Today, Quirk’s is already a core supplier of the most important multipliers. For that reason we’re very pleased to be able to bring these strengths to Conergy in order to achieve market leadership on the fifth continent,” explains Hans-Martin Rüter, founder and board chairman of Conergy AG. Conergy’s varied solar product lines for electricity, heating and cooling from the sun are meeting with an ever-growing demand for energy in Australia. With an annual increase of about 20 percent for photovoltaic systems and more than 30 percent for thermal systems Australia is considered a growth market for solar energy. By 2010, in line with the MRET (Mandatory Renewable Energy Target), the Australian government aims to achieve a total power output of 9,500 gigawatt hours with renewable energies, which represents an increase of 60 percent. Integrating profitable Quirk’s will help Conergy to take full advantage of the strong market growth.

About Conergy

Conergy is the German solar enterprise with the highest sales. It manufactures and trades in components and systems for the production of electricity, heating or cooling from sunlight. The Conergy group operates around the world in close proximity to its clients and is now has branches in 15 countries. The recent market entries in the USA, Australia, Portugal, Mexico and India have secured access to new customers and will bring Conergy substantial additional sales and revenue in 2005 and beyond. With new product developments and investments in its international distribution networks, Conergy has already gained further market sectors in the most lucrative international markets for renewable energies in 2005. This has meant the massive expansion of production capacities at its sites in Rangsdorf near Berlin, Landshut and Bad Vilbel near Frankfurt. Product development is attuned to the most diverse customer needs for electricity, heating or cooling from sunlight around the world. This is another reason why Conergy received an award as the most innovative small mid-cap firm in Germany this March.

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