ET Solutions and Sunelectra Global Commission 4.2 MW PV Projects in Ukraine financed by EBRD

Munich/Germany - ET Solutions AG (\"ET Solutions\"), a full subsidiary of ET Solar Group for EPC service, has completed construction of a 4.2 MW PV power plant in Odessa, Ukraine. The power plant was financed through a €3.9 million long-term loan agreement with the European Bank for Reconstruction and Development (EBRD) and a parallel loan of €1.5 million from the Clean Technology Fund.

The project, which is one of the largest operational solar power plants in the region, covers 7 hectares and consists of more than 17,000 solar modules made by ET Solar. ET Solutions provides EPC and operations & maintenance services to this project.

ET Solutions implemented the project in partnership with Sunelectra Global, an international company active in emerging renewable energy markets in the Middle East and the CIS region. Sunelectra Global began development of the Teplodar project in 2011 and provided key local commercial and technical expertise throughout the project life cycle.

Dr. Linhui Sui, CEO of ET Solutions, commented: “Closing of the long-term project financing agreement with EBRD and successful completion of the power plant is the result of seamless coordination between EBRD, Sunelectra Global and our Munich team. It further demonstrates that we are transforming ourselves into a global EPC company with a comprehensive skillset, a proven track-record of successful project execution and highest bankability.”

Sevki Acuner, EBRD Country Director for Ukraine said: “The EBRD has already invested over €1.7 billion in sustainable energy projects in Ukraine and it remains committed to the development of the renewable energy sector in this country. Our new investment into renewable power generation in Odessa region is an important example of our continued commitment in this sector, especially given the importance of power supply diversification for Ukraine”.

Mr. Peter Rozenkrants, CEO of Sunelectra Global, added: “Our team is proud to have facilitated a successful collaboration with ET Solar and EBRD, both top-tier global renewable energy players. Our success in leading such critical tasks as closing of the EBRD debt financing, permitting activities, technical advisory and local project management demonstrate the experience and effectiveness of our team. As we continue to expand into new markets, we look forward to further cooperation with EBRD and ET Solar.”

About ET Solar Group & ET Solutions AG
ET Solar Group is a global one-stop solution provider for solar power plants with 1 GW manufacturing capacity of solar modules. ET Solutions, the full subsidiary of ET Solar, is a leading turnkey EPC service provider for solar power plants with over 200 MW project development and EPC experience. ET To learn more about ET Solutions & ET Solar, please visit us at http://www.etsolar.com

About EBRD
The EBRD is the largest financial investor in Ukraine. As of 1 August 2013 the Bank had committed over €8.55 billion (US$ 11.4 billion) through 327 projects in Ukraine.

About CTF
The CTF was established in 2008 to support middle-income countries with their adoption of renewable and energy efficiency technologies that have high potential to minimise long-term greenhouse gas emissions. The fund already finances programmes in 15 countries and one region, and is the largest multilateral climate-finance instrument in operation.

About Sunelectra Global
Sunelectra Global is an international renewable energy company with deep expertise across the full cycle of PV solar project implementation, including permitting, engineering, project financing, procurement, construction management as well as operating and maintenance services. With over 30 MW of implemented PV projects, Sunelectra Global is focused on the emerging renewable energy markets including Ukraine, Russia and Central Asian countries.


Munich/Germany, 20 September 2013


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Juergen Mauerer
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