Conergy to create 1,000 jobs at state-of-the-art solar factory in Frankfurt (Oder)

Hamburg, 12 November 2006 - Hamburg-based Conergy AG is building the world’s most technologically advanced production plant for solar modules on the site of the former chip factory in Frankfurt (Oder). Conergy’s board of management has now given the green light for building to start. In the first stage of development, the company will invest around EUR 250 million in the world’s first and only fully integrated mass production of wafers, cells and modules. In the medium term, it will create more than 1,000 jobs on the site of the former chip factory.

With this investment, Conergy is securing cost and quality leadership on the global market, thus creating the foundation for further dynamic growth in its core business. The project will be financed by a syndicated loan, without drawing on funds earmarked for the company’s further expansion.

The first modules, with total output exceeding 50 megawatt, will already start rolling off the production lines by the second half of 2007. By 2008, a production capacity of 300 MW for wafers, 275 MW for cells and 250 MW for solar modules will have been reached. The efficiency goal for monocrystalline modules is above 17%. The new layout of production lines in just one hall shortens transport routes while the very high degree of automation contributes decisively to a clear reduction in the breakage rate of the sensitive cells. The machinery offers plenty of room for maneuver for further increases in productivity, in particular through constant advances in efficiency and lower silicon usage. The production process will begin with a cell thickness of 200 µm but is designed for a reduction to 160 µm.

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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