January 8, 2010

Nanjing, China: ET Solar Completes 1.48 MW PV Power Plant

ET Solar, a Nanjing-based PV system turnkey solution service provider and integrated manufacturer of downstream PV products announced completion and grid connection of a 1.48 MW ground mounted PV power plant. ET Solar acted as the EPC contractor.

ET Solar's German engineer team provided full design for the project with PV modules provided by ET Solar's China manufacturing plant. Assessed by a third party German consulting firm, the plant's designed efficiency is almost 82%.

The project is located in the Paehl region that is approximately 50 kilometers south of Munich. Main construction work started in late November 2009 and grid connection was done in mid December the same year at E.ON, the largest grid operator in Germany.

Wattner AG, a Cologne based investment trust that is specialized in renewable energy investments, is the sole equity investor of the project via its publicly raised SunAsset fund. Project finance was provided by a syndicate of two regional German savings banks.

Dennis She, Vice President and Chief Sales Officer of ET Solar, commented "We are very excited with the completion of this project and our partnership with Wattner. The transaction showcases our strong ability to execute our downstream strategy leveraging our EPC experience, product quality and cost advantages."

Guido Ingwer, Managing Partner, commented "The project opens 2010 strongly for Wattner and paves the way for future collaboration between Wattner and ET Solar. With our robust project pipeline, we very much look to replicate our Paehl success with ET Solar throughout Germany."

Further details about: ET Solar and Wattner