Announcement on the sale of 20MW power station and Project Company in Germany

Board of Directors of company and all members ensure that all information disclosure in this content is true, accurate, complete, and no false record, misleading statement or major omissions. Special risks warning: on the basis of buyer and seller agreed, the buyer will pay it own funds on the price after receiving financing from Germany DZ Bank. At present, the Project Company owned by company has signed financing agreement with Germany DZ bank, but no financing has not yet affected into account. Please majority of all investors to pay more attention to investment risks. First, Trade Overview 1. Basic Situation Energy One Solar 7 GmbH & Co. KG (Hereinafter referred to as Project Company) owned by company Wholly-owned subsidiary, Sunowe (Luxemburg) Light Energy Science & Techn- ology Limited Liability Company (hereinafter referred to as Luxemburg Company) possess 20MW Power Station in Elsterheide District, Dresden City, Germany (Please find details from the announcement of No. 2011-038 and No. 2011-054). It succeeded to be on gridin December, 2011. According to company development strategy, we will plan to transferall equity of Project Company to CEE Sidefund IS.A., SICAV-FIS and CEE PV Beteiligungen GmbH& Co.KG ( Hereinafter referred as to “the buyer” and ””CEE”). At Jun 2, 2012 (Ger-many time), Luxemburg Company has signed with CEE for Equity Transfer Agreement with additional force condition. After transfer, CEE Sidefund I S.A., SICAV-FIS holds 75% shares, and CEE PV Beteiligungen GmbH& CO., KG holds 25% shares. At Jul 5, 2012 (Germany time), Project Company succeeded to sign loaning agreement with Germany DZ Bank, but it is not confirmed when loan will be released.

Latest News