ersol signs solar cell supply contract with new major customer aleo solar

Erfurt, 27 May 2008. ersol Solar Energy AG (ersol) today concluded a cell supply contract with aleo solar AG (aleo solar). The contract volume amounts to about 250 MWp. Crystalline silicon solar cells are to be supplied to Prenzlau module producer aleo solar over a period of 12 years starting in 2008. The conclusion of this latest contract marked an increase in ersol's order volume for solar cells to well over € 3 billion.

"We are pleased to have been able to acquire aleo solar as a new major customer for our solar cells. With the pricing in today's contract we believe that this puts our new customer in a position to be able to offer competitive products on the market," said Dr Claus Beneking, ersol CEO, following the contract signing. "With ersol as a cell supplier we are above all building on a quality partnership. We value ersol's high-quality, high-performance crystalline solar cells, with which we will now be equipping our modules," said Heinz Willers, COO at aleo solar AG.

ersol Solar Energy AG
Wilhelm-Wolff-Str. 23
99099 Erfurt

Further information:
Janina Broscheit
Phone: +49 361 2195-1181
Fax: +49 361 2195-1133
presse@ersol.de
www.ersol.de

About ersol

ersol Solar Energy AG produces and markets high-quality silicon-based photovoltaic products. The Group comprises the segments Silicon, Wafers, Solar Cells and Modules. With sales of € 160 million in financial year 2007, the Thuringia-based Company is one of the leading players in the solar industry. Listed since 30 September 2005 on the Prime Standard of the Frankfurt Stock Exchange, the young ersol share had already been added to the TecDAX on 19 December 2005. Currently the ersol Group has more than 900 employees.

The Company’s main goal is to establish itself even more strongly as a manufacturer of high quality silicon solar cells and to account for a disproportionate slice of the anticipated growth in the photovoltaic industry. To achieve this, ersol currently focuses on technologically demanding stages of the value chain for photovoltaic plants, and in particular on the production of wafers and solar cells. There are a number of pillars to the Company’s supply of the raw material it needs, silicon. It is primarily secured by long-term delivery agreements with leading polysilicon manufacturers. In addition to this, the Company’s internal recycling capacities in the silicon area also make an important contribution. Silicon is processed in the Wafers segment. The monocrystalline wafers manufactured there are preliminary products for the manufacturing of highly-efficient silicon solar cells in the Solar Cells segment. Since early 2006 the Company has been delivering a part of its solar cells for the production of solar modules to the joint venture Shanghai Electric Solar Energy Co. Ltd. (SESE) in which the ersol Group has a 35% holding. The sales of these and other photovoltaic modules are handled in part by the Modules business segment. In the future, this segment is expected to include the Company’s own module production, planned for 2009. ersol also develops silicon-saving thin-film technology in the Modules segment. For this purpose ersol has a production facility for silicon thin-film modules.

This release was published on openPR.