voltwerk evolves into leading investor in regenerative energy projects in Europe

Hamburg, 25 August 2006 - The Hamburg-based voltwerk AG, a subsidiary of the listed Conergy AG, is growing into an international market leader in the area of investments in renewable energy projects. This year alone, the company and its international subsidiaries will carry out major solar, wind and bioenergy projects with a total volume of approximately 250 million euros. Compared to the previous year (140 million euros), this is an increase in project volume of about 80%. This means that the major project business of voltwerk is well on track for a substantial contribution to the anticipated drastic increase in turnover and revenues of Conergy AG of at least 50%.

The rapid expansion of large-scale international projects, in particular, is significantly contributing to growth: one in four projects is already being carried out abroad this year. In Spain alone, voltwerk will implement major photovoltaics projects with an investment volume of more than 50 million euros and thus exceed the company turnover in this sector in the German market for the first time. Moreover, initial regenerative projects will be carried out on a large scale in Italy, and as of 2007, in France as well. These projects will already profit from more lucrative general conditions due to improved legal power feed regulations. "With falling module prices, we can consistently carry out the great many major photovoltaics projects which are in our pipeline, in order to continue to be able to offer our institutional investors a variety of lucrative solar investments up to 2008, and in Germany as well,“ says Nikolaus Krane, Chairman of the Board of voltwerk AG.

Project financing through institutional investors

During the past year, voltwerk AG has increasingly expanded its partnership with institutional investors and has already attained a third of its turnover with this group of investors. This year, the share will clearly exceed 80 percent. "Internationally active investors are increasingly discovering the European market for renewable energies. Due to their relatively consistent reflux of capital, direct investments into major projects are particularly interesting for this group of customers," explains Nikolaus Krane. Thanks to the international project pipeline, and the use of different regenerative technologies, investors can coordinate their portfolio with voltwerk according to their own requirements. "Security-oriented capital providers is focussing increasingly on photovoltaics, while profit-oriented investors tend to place more emphasis on bioenergy," explains Nikolaus Krane further.

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 on five continents. 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 2006. This has meant the massive expansion of production capacities in Germany. 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 in 2005.


For further information please contact:

Conergy AG
Anckelmannsplatz 1
20537 Hamburg
PR Department: Mr. Thorsten Vespermann
Phone: +49 (0)40 / 23 71 02-171
Fax: +49 (0)40 / 23 71 02-405
press@conergy.com
http://conergy.com

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