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Press Release

Herausgeber: Conergy AG

Acquisition expands Conergy

The Conergy Group is not only Germany’s top-selling solar power firm, it is also the world’s leading photovoltaic system provider. Conergy also provides its large-scale regenerative power system customers the full range of cutting-edge services for professional system operation management. Conergy quickly reached an attractive level of profitability after its entry into the wind and bio-energy markets, operating rapidly increasing numbers of systems and benefiting from the synergies thereby afforded.

In an effort to further develop this promising service line, Conergy Renewable Services GmbH was reorganised and beefed up substantially in terms of professional expertise and volume by way of strategic acquisition. Detmar Dettmann is to take over the reins of this wholly-owned subsidiary of Conergy AG as of 1 February 2006. For the last four years Dettmann was Director of Sales for a solar power company where he was instrumental in building up the business. For the five years prior to that he was responsible for developing sales structures for a mobile communications firm. In concert with Frauke Herden, Director of After Sales and Business Administration, and Matthias Wolf, Director of Technology and Systems, Conergy Services now has a high-calibre management team whose extensive leadership experience is ideal for establishing Conergy as the global leader in after-sales and the operational management of regenerative energy systems as well.

The acquisition of Ostwind technic GmbH as of 1 January 2006 is also crucial to attaining these goals. The company performs technical system operation for 42 wind parks involving 240 individual systems with approximately 310 megawatts (MWp) of output. Ostwind’s experienced staff of 16 and its IT system specially configured for regenerative projects are a perfect complement to Conergy Renewable Services GmbH. The Ostwind Group will continue to rely on the company’s know-how, as Conergy has a contract option for operating all domestic and international wind parks developed by Ostwind for the next several years. “Conergy is an ideal partner for the international expansion of our core regenerative business wind project development. The advantage we now have through our bundled experience assures our customers of optimal service quality”, said Gisela Wending-Lenz, Managing Co-Executive of the Ostwind Group together with Ulrich Lenz. The company is one of the pioneers in the wind power industry, developing wind projects since 1994.

Bundling the two companies' expertise in solar and bioenergy system operational management makes Conergy one of the world’s leading service partners in the regenerative mega-segments. As of the end of 2006, Conergy anticipates having a portfolio with over 800 MW of wind, 100 MW of photovoltaic and over 20 MW of bioenergy output from new and existing systems. The company will continue to systematically expand its service package, offering it in conjunction with such new technologies as large-scale solar-thermic plants. “This project volume gives Conergy the critical mass it needs to offer a closely inter-coordinated array of services combined with high reaction speed and cost-effective levels of utilisation. Our customers profit from the depth of experience that only we can offer and from our 360-degree after-sales support. We provide optimal service quality and long-term system efficiency through our cutting-edge online-systems", said Hans-Martin Ruder, founder and CEO of Conergy AG.

As a leading service partner, Conergy will increasingly be offering its range of valuable services internationally as well, adding on other after-sales benefits. These include monitoring packages for small-scale systems as well as leasing and contracting offers. The replacement parts business will also be a driver of profitable growth for Conergy Renewable Services as existing systems begin to age.

About Conergy
Conergy is Germany’s top-selling solar energy company, manufacturing and distributing components and systems for generating electricity, heat and cooling from renewable sources. The Conergy Group works closely together with its clients through a global presence now encompassing divisional offices on 5 continents. Newly developed products and investment in its international distribution networks will allow Conergy to continue to gain market share in 2006 in the world's most lucrative renewable energy markets. To support these efforts, production capacity is being dramatically expanded. Product development is oriented around varying international customer requirements for electricity, heat, and cooling derived from renewable energy sources. This in part explains why in March Conergy was named Germany's most innovative small-midcap company. Conergy’s initial public offering, oversubscribed 29 times over, was one of the most successful since 2001.

Contact at Conergy:

Conergy AG
Thorsten Vespermann
Head of Corporate Communications

Anckelmannsplatz 1
20537 Hamburg
Germany

Phone: +49 (0)40 23 71 02-172
Fax: +49 (0)40 23 71 02-148
E-mail: press@conergy.com">press@conergy.com
Internet: http://www.conergy.com



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