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SolarWorld AG decides on and places capital increase of 10 per cent

Stake in Solarparc AG

07-02-06v3

The Board of Management of SolarWorld AG (ISIN: DE0005108401) has – against the background of the accelerating expansion of the group-wide solar business – decided on and placed a capital increase against cash and non-cash contributions with the approval of the Supervisory Board.

Subscription rights are excluded. A total of 1.265 million individual share certificates were issued to institutional investors. The placement of these new shares will generate liquid funds for the company to the tune of 233.7 million EUR net. Furthermore, in the course of this capital increase SolarWorld AG will acquire a 29 per cent stake in Solarparc AG (ISIN: DE0006352537), a specialist in the construction, operation and placement of large solar power plants. The seller of this block of shares is Eifelstrom GmbH. The basis of the capital increase from the approved capital of the company is § 4, Sec. 1 of the company’s articles of association according to which the Board of Management is authorized, subject to the approval of the Supervisory Board, to increase the capital stock of up to 10 per cent while excluding subscription rights. As a result of this issue of new shares the capital stock of SolarWorld AG will go up to 13.965 million shares.

Information and Explaination of the Issuer to this News:

The proceeds of the issue will serve the consistent utilization of the growth potential resulting from the take-over of the solar silicon activities of the Shell Group. 'The volume will among other things be used to intensify our supplier-independent silicon production in order to consistently implement the full capacity utilization of our new production locations in the USA and the rapid expansion in Germany“, explains Dipl.-Ing. Frank Asbeck with reference to the capital increase. Solar parks an ideal complement for the international business The integration of Solarparc AG in the group activities is also an expression of the growth strategy of the company. “The business activities of Solarparc AG constitute an ideal complement to our own sales possibilities against the background of the clear-cut future growth in the production potential of our company.” Solarparc AG is a leading provider of high capacity solar power parks capable of being placed in the capital market. “With this acquisition SolarWorld AG is integrating another part of the solar value chain on the distribution side.” Solarparc AG is planning the construction of solar power plants both in Germany and abroad. These will be innovative so-called Suntrac tracking plants that are designed to follow the movement of the sun. “Our tracking solar power plants that follow the movement of the sun like sunflowers generate up to 45 per cent higher solar yields than fixed plants. They are ideal for the construction of solar parks in sun-rich regions like for example Spain or California,” explains Frank Asbeck elaborating on the advantages of this new technology. As a result of the expansion in the USA in the course of the take-over of the Shell activities the Solarparc stake will be particularly valuable in sun-pampered California where after the completion of the take-over SolarWorld will have a modern and integrated production location and thus additional sales opportunities in the high growth US market. In 2005 SolarWorld and Solarparc together sold a total solar power capacity of 10 MW (Megawatt) in the large scale power plant business.



 
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