Carpevigo AG founds subsidiary in the Czech Republic

Branch office in Prague opened

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

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright © Hugin AS 2009. All rights reserved.