Conergy AG

euro adhoc: Conergy AG
Strategic management decisions
Conergy to create 1,000 jobs at state-of-the-art solar factory in Frankfurt (Oder)

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

- Leading solar energy company is investing around EUR 250 million
in production process  - World’s only fully integrated solar wafer,
cell and module production in  former chip factory in Frankfurt
(Oder) - Investment goal to secure cost and quality leadership on the
global      solar market

Hamburg/Frankfurt (Oder), November 12, 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.

About Conergy

With an expected turnover of more than 800 million euros in 2006, Conergy is Europe’s largest solar energy company. It is also one of the world’s top providers in other rapidly growing fields of renewable energies such as bioenergy. The company pursues a client-focused global growth strategy that aims to offer each energy consumer worldwide the most appropriate technology in the attractive markets for renewable energies. The Conergy Group is now represented on five continents with its own branches and has a current workforce of 1,400.

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ots Originaltext: Conergy AG
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Further inquiry note:
Conergy AG
Thorsten Vespermann
Head of Corporate Communications
Anckelmannsplatz 1
D-20537 Hamburg
Phone: +49 (40) 237102171  
Fax: +49 (40) 237102405
Mobile: + 49 (172) 451 19 67

Branche: Energy
ISIN:      DE0006040025
WKN:        604002
Index:    TecDAX, Technologie All Share, CDAX, HDAX, Prime All Share,
              Midcap Market Index
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade

Weitere Meldungen: Conergy AG

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