Enfinity Will Develop China's Largest and First PV Power Station

WAREGEM, Belgium and SHANGAI, July 3 /PRNewswire/ --

- A Joint Bidding Team, Initiated by Enfinity, Won the First 10 MWp Solar Concession Project

The Dunhuang PV Project involves an investment of 200 million yuan (27 mio euro), with an annual power production of 16.37 million kWh, and a franchised operation term of 25 years. In late March 2009, the Chinese National Development and Reform Commission (NDRC) planned an open tender to confirm the on-grid electricity price and technical solutions. A total of 13 enterprises including major domestic power giants got the upper hand in the bidding, with tender prices ranging from 0.69 yuan/kWh (0.071 euro/kWh) to 1.9 yuan/kWh (0.196 euro/kWh). The joint bidding team, which is initiated by Enfinity, has won the project with the price of 1.09 yuan/kWh. CGNPC and LDK Solar are the partners on the bid.

"The project is expected to start construction within 4 months and has to be completed within the 18 following months", commented Gino Van Neer, founder of Enfinity. All PV systems will be PV tracker panels, installed on land. Enfinity is in the process of setting up the Dunhuang joint venture company and confirming the EPC contract. In the near future Enfinity will develop a total of 500 MWp of PV installations in the Dunhuang region.

"Winning this bid is an important milestone for Enfinity's international expansion strategy and it will act as an entrance ticket towards the high potential Asian market," says a very proud Gino Van Neer.

NDRC of China also intent to set up a bench mark FIT (Feed in tariff) at 1.09 yuan/kWh that Enfinity proposed. Enfinity as the only foreign player who participated in the tender has attracted a lot of attention in Asia.

Followed by the success of the Dunhuang project, Enfinity is continuing the development in China. This week, Enfinity had its first self-developed project in Shizuishan (Ningxia province) approved by the provincial level government. The 10MWp project is ready to be submitted to NDRC for the FIT approval.

About Enfinity N.V.

Enfinity N.V. is established in Waregem (Belgium), and is a fast-growing and ambitious company with international activities in renewable energy. As a project specialist, Enfinity ensures the implementation of solar energy power plants, and is today already present in twelve countries including Belgium, Italy, Spain, France, Greece, the US, Canada and Germany. In order to finance these energy projects, Enfinity works with individual project companies whose financial means are provided by equity investors and banks.

Enfinity is in the process of developing, building and financing PV projects with a total capacity of more than 145 MW and is planning to initiate several hundred megawatts through 2010. In 2008 Enfinity had a turnover of 83.1 mio Euro.

Enfinity also sells end-to-end solar installations to companies and private persons. For the consumer, this is done via an extensive dealer network.

At this time, Enfinity is focusing on solar energy based on photovoltaic technology but the company also has concrete plans for entering the wind energy field. The founders of the company are Gino Van Neer and Patrick Decuyper with the support of 'business angel' Marc Dewaele.

In 2009, Enfinity has consolidated its international position with a 50 million Euro investment by investment firm Waterland.

About LDK Solar

LDK Solar is a pure-play manufacturer dedicated solely to the design, development, manufacturing and distribution of multi-crystalline solar wafers. Wafers are the principal raw material used to produce solar cells, which are devices capable of converting sunlight into electricity. Their manufacturing process is based on proprietary production processes utilizing both virgin and recyclable polysilicon for ingot production. Through this proprietary process, they are able to offer their global solar cell and module manufacturer customers considerable cost advantages while maintaining quality and performance.

About CGNPC

Established in September 1994 with a registered capital of RMB 10.2 billion, China Guangdong Nuclear Power Holding Co., Ltd (CGNPC) is a central corporation under the leadership of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council with nuclear power as its core business. It is the only clean energy corporation in China which centers its business on nuclear power. China Guangdong Nuclear Power Group (CGNPG) is a large conglomerate comprising of its core company, CGNPC, and over twenty subsidiaries.

    For further information, please contact:

    Enfinity China

    Jing Zhou
    Head of Develop China
    Phone: +86-(0)21-28-90-96-50
    E-mail: jzhou@enfinity.biz
    Website: http://www.enfinity.biz

    Enfinity Head Office
    Jurgen Van Damme
    Press and Communications
    Phone: +32-56-28-88-88
    E-mail: jvandamme@enfinity.be
    Website: http://www.enfinity.biz

SOURCE Enfinity NV