DGAP-News: SolarWorld AG Implements Module Production in Asia

SolarWorld AG / Miscellaneous

08.02.2008 

Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Production Site in South Korea to Go Live in 2009

SolarWorld AG is implementing its plans to build up a solar production
facility in Asia and has signed an agreement with SolarPark Engineering Co.
Ltd. in Seoul for the establishment of a module production facility in
South Korea. In October the project was preceded by the signing of a Letter
of Intent. Part and parcel of this agreement is the foundation of
SolarWorld Korea Ltd. as a joint venture in which the partners will each
hold a share of 50 per cent.

SolarWorld Korea will complete the module factory until the end of the
year. The opening of the first SolarWorld AG production facility in Asia
can be expected in 2009. The module production will initially have a
capacity of 120 Megawatt (MW) that can later be doubled to 240 MW. In
addition, the partners keep the option open of establishing a cell
production process at the same location.

'With our first Asian solar module production we are responding to the
increasing solar demand in the growth markets of Asia', says Dipl.-Ing.
Frank H. Asbeck, Chairman and CEO of SolarWorld AG. 'Especially in Korea
and Japan we are expecting a rapidly rising demand for modern solar power
technology'. In 2012 South Korea alone is predicted to have a market volume
of 800 MW (2007: 50 MW). For Japan the expectation is also 800 MW.

About SolarWorld AG: The SolarWorld Group (ISIN: DE0005108401) is among the
top trio of the solar power industry worldwide. The group is dedicated
exclusively to the core business of solar energy, combining all stages of
the solar value chain, from the raw material silicon to turn-key solar
power plants. The company operates production facilities in Germany and the
USA. In California the largest production site in the USA for solar modules
and in Oregon the largest production site in the USA for solar wafers and
cells are being created. In Freiberg in Saxony the group operates one of
the world’s most advanced integrated solar production facilities. Among the
currently most important sales markets are Germany, the USA and in the rest
of Europe especially Spain. Sales offices in Germany, Spain, California,
South Africa and Singapore service the international solar markets. In
addition to on-grid solar power products the group increasingly distributes
rural solar power solutions internationally that can make an important
contribution to the sustainable economic development of rural regions.
After the IPO at the end of 1999, the company developed within a few years
into one of the largest fully integrated solar technology groups. At the
end of the third quarter of 2007 some 1,969 people were working for the
group. At the stock exchange SolarWorld AG is listed among others in the
technology index TecDAX, in the Öko-DAX, in the Dow Jones STOXX 600, in the
international MSCI Index as well as in the sustainability indices DAXglobal
Alternative Energy and NAI.
Over and above this SolarWorld AG is getting involved at the social policy
level in order to push ahead the principle of sustainability and to sharpen
public awareness of resource and climate protection.
Moreover, SolarWorld is involved at the sociopolitical level in order to
further the sustainability notion and raise awareness for climate and
resources protection.


Contact:
SolarWorld AG Investor Relations / Marketing Communications,
Tel.-No.: +49 228 55920 -470; Fax-No.: +49 228 55920-9470,
E-mail: placement@solarworld.de   
Internet: www.solarworld.de



DGAP 08.02.2008 
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Language:     English
Issuer:       SolarWorld AG
              Kurt-Schumacher-Straße 12-14
              53113 Bonn
              Deutschland
Phone:        +49 (0)228 - 559 20 470
Fax:          +49 (0)228 - 559 20 99
E-mail:       placement@solarworld.de
Internet:     www.solarworld.de
ISIN:         DE0005108401
WKN:          510840
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
              Freiverkehr in Berlin, München, Hamburg, Stuttgart;
              Terminbörse EUREX
End of News                                     DGAP News-Service
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