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Press Release

Herausgeber: Conergy AG

Conergy opens subsidiary in Pennsylvania to expand business in the US

Hamburg, 9 November 2006 - Publicly traded corporation Conergy AG (ISIN DE 0060 40024) has agreed to locate the North American headquarters of its renewable energy project development and financing subsidiary, voltwerk, and the East Coast operations of its solar engineering and installation subsidiary, SunTechnics, in Pennsylvania. This strategic decision will bring the company closer to customers in the growing market for renewable energy in the eastern United States. The Conergy Group is number one in sales among European solar power firms, with a global presence in 22 countries. With a vertical integration strategy that positions the company strongly in each component of the renewable energy value chain and local-market offices in California, New Mexico and Colorado, the company expects global revenues to continue to rise in 2007 and 2008 by at least another 50%.

"The renewable energy market in the United States is growing rapidly and Pennsylvania is taking a leadership role," said Mac Moore, regional head for Conergy in North America. "With the state's forward-thinking policies, we see tremendous potential to develop renewable energy projects and are very pleased to become a part of Pennsylvania's business community." The Conergy Group's new East Coast headquarters will also propel economic growth in neighboring states such as New Jersey and New York. Pennsylvania to increase new energy sources to a minimum 18% of power supply

Pennsylvania's leadership in the broad field of renewable energy comes as the result of a deliberate policy of promoting and attracting clean energy projects. The state's clean energy law - the Alternative Energy Portfolio Standard - ensures at least 18% of electricity used in Pennsylvania will come from advanced and renewable sources by 2020. As a result, the state's total photovoltaic capacity is expected to increase from under one megawatt currently to as high as 700 megawatts - one of the largest commitments thus far on the continent. Thanks to the initiative of Governor Edward G. Rendell, Pennsylvania is taking on a leading role in the context of US environmental policy.
"Pennsylvania's clean energy efforts are producing real results - our economy is growing, residents are working more and the environment is improving," Governor Rendell said. "With long-term investments from leading global firms such as Conergy, our commonwealth remains at the forefront of building and deploying innovative alternative energy solutions. That means more jobs, more development and, in today's rapidly expanding energy market, evens more opportunities."

Legislation, an array of state-funded projects and favorable environmental conditions make Pennsylvania an ideal location for solar, wind, and bioenergy systems. Experts have noted that this East Coast state is well-suited to benefit from environmentally sound wind energy systems providing a total peak output of roughly 5,000+ megawatts. Likewise, after Governor Rendell's estimations, Pennsylvania contains enough plant matter to generate annually up to 40 million gallons of biodiesel and 500 million gallons of cellulosic ethanol for the production of clean environmental-friendly motor fuels. A comprehensive set of renewable resources were compelling reasons for the Conergy Group to move its subsidiaries voltwerk and SunTechnics to Pennsylvania and establish a base to pursue the further expansion of its operations in the growing US market.

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 target=_self>press@conergy.com
http://www.conergy.com



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