Germany, - Carpevigo AG founds subsidiary in the Czech Republic

Holzkirchen / Germany, Nov 19, 2009 - Carpevigo AG, a contractor and developer of solar energy power plants has founded a subsidiary in the Czech Republic. From it's newly opened branch office in Prague the company will coordinate major projects located in the south of the country.

Based on it's successful strategy in Spain and Italy, Cargevigo AG will develop the Czech market by means of a close cooperation with companies having long term experience in the Czech power supply industry. After a thorough market survey in 2008 suitable business partners have already been chosen.

In 2010 Carpevigo AG intends to project solar power plants with an overall capacity of 10 Megawatt (MWp) in the south of the country, five of which with an overall capacity of 5 MWp will also be constructed by Carpevigo.

"The Czech market provides great opportunities in the area of solar power generation", states Jens F. Neureuther, CEO of Carpevigo AG on occasion of the founding the new international subsidiary. In addition to the attractive remuneration for feeding solar energy into the grid there are secure general political conditions. "Also, Prague is important to us as base for our further development of the East and Southeast European market," Neureuther says.

With it's renewable energy support Act the Czech government has led the way to an augmented use of renewable energy sources in power generation. The renewable energy's percentage of the overall power generation is supposed to increase from 3.9% in 2007 to 8% in 2010 as a first step. Photovoltaic solar power plants shall make a significant share of the renewables.

With an average solar radiation of 1,000 to 1,100 kilowatt hours (Kwh) per square metre and year (kWH/sm/a) on the horizontal surface the geographical preconditions are excellent. Being perfectly adjusted to the southernmost position solar power panels are expected to produce 1,100 to 1,250 kWh/sm/a thus providing optimal use of solar energy. The feeding remuneration for solar energy to the grid is 12.89 ckr/kWh. This equals 50 euro cent per kilowatt hour. As in Germany the Czech feeding remuneration is guaranteed for a period of 20 years. Characters (incl. spaces): 2.255

About Carpevigo AG:

CARPEVIGO AG plans, builds and operates solar power plants for the generation of electricity from renewable energies. The solar-generated electricity is sold to utilities companies and network operators. Carpevigo focuses its business activities on countries with stable and legally guaranteed frameworks for the usage of renewable energies for electricity production. Business activities include the identification of suitable locations, purchasing, planning, construction and operation of solar power plants.

For further information: CARPEVIGO AG Ms Gabriele Breu Marktplatz 20 83607 Holzkirchen, Germany Phone 49-(0)8024-608383-14 Fax 49-(0)8024-608383-90 www.carpevigo.de

Press enquiries: CARPEVIGO AG Mr Ulrich L. Schneppel Emmy-Noether-Str. 2 79110 Freiburg, Germany Phone 49-(0)761-48080-0 Fax 49-(0)761-48080-55 carpevigo@york-communications.de

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