EPURON - EPURON expects significant growth in Greece

Hamburg, July 19, 2007: EPURON GmbH has entered the Greek photovoltaic market with the set up of its new subsidiary EPURON EPE. The Greek subsidiary has requested permits to build large-scale projects with a total output of around 25 MWp to the Greek regulatory authority, laying the foundation for profitable gains in one of the sunniest countries in Europe. The project package requires investments of over 140 million euros. The development sites are planned to be distributed throughout the regions of Thessaly and Macedonia which will include sun-tracking and stationary frame systems. “Like Germany and Spain, we are aiming to lead the development of large-scale photovoltaic systems in Greek market. We are well on the way to achieve this with our project pipeline,” said Thomas-Tim Saevecke, member of the management team at EPURON, responsible for photovoltaics.

EPURON has been benefiting from the strong standing of the Conergy Group. Conergy has been active in the Greek market since 2004 and is the market leader in solar energy systems sales. The Greek subsidiary will use Conergy components for its solar projects. Conergy is constructing one of the most advanced solar factories in the world near Frankfurt (Oder). The factory will have an annual production volume of 250 MW.

Thanks to attractive feed-in tariffs, the Greek market is highly promising for renewable energy development. A new grid supply law was passed in Greece last year. This will support an increase of photovoltaic capacity to a peak output of 700 megawatts in the next few years. Plants generating 500 megawatts are expected build on the mainland while 200 megawatt plants will build on the Greek islands. The remuneration for PV solar power is 40 euro cents per kilowatt hour on the mainland and 45 euro cents on the islands.