DGAP-News: SolarWorld AG Opens Module Factory in South Korea

SolarWorld AG / Miscellaneous

10.12.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG located in Bonn, Germany, has commissioned its first
manufacturing facility for solar power modules in Asia together with its
Korean joint venture partner SolarPark Engineering Co. Ltd. The module
factory in the South Korean city of Jeonju has a capacity of 150 Megawatt
and can be expanded to 1 Gigawatt at its present location. With the new
manufacturing facility the SolarWorld Group is taking account of the
vigorous market growth for solar power technology in Asia. Frank H. Asbeck,
Chairman and CEO of SolarWorld AG: 'In Korea and Japan alone we are
expecting an increase in the market volume of at least 800 Megawatt each by
the year 2012. These markets will be supplied with the usual SolarWorld
quality products from our new manufacturing facility'. The factory was
completed exactly on schedule after only six months. The investment volume
amounts to 30 million EUR and is split 50:50 between the two joint venture
partners.

Group to continue integration strategy with plant construction

SolarWorld AG and SolarPark Engineering Co. Ltd. will continue to cooperate
in the future in the construction of turn-key plants for the manufacture of
solar power modules worldwide, also for third parties. To this end an
agreement was signed today on the occasion of the opening of the module
factory for the creation of the joint venture SolarPark Manufacturing
Equipment Ltd. In this way SolarWorld AG is adding the construction of
production plants to its solar value chain. 'We are the only company in the
solar industry to integrate everything from the production line to the
complete solar power station under one roof', says the Chairman and CEO of
SolarWorld AG, Frank H. Asbeck.

About SolarWorld AG: The SolarWorld AG group of companies (ISIN:
DE0005108401) is a world leader in providing high quality solar power
technology. The company is represented at all the stages of the solar value
chain combining industrial activities ranging from the raw material of
silicon to turn-key solar power plants. SolarWorld AG is represented in all
solar growth markets of the world. The group which is exclusively involved
in its core business of photovoltaic technology operates production
facilities in Germany and the USA. These supply the SolarWorld AG sales
offices in Germany, Spain, USA, South Africa and Singapore. In South Korea
SolarWorld AG is opening a solar module production facility so as to be
able to satisfy the growing demand in Asia on the spot in the future. The
central element of the business in addition to the sale of turn-key solar
plants and solar modules to the specialist trade is the distribution of
solar silicon wafers to the international solar cell industry. In addition
to grid-coupled (on-grid) products the group also distributes
grid-independent (off-grid) solar power solutions that make an important
contribution to the sustainable economic development of threshold and
developing countries. The group pools its ethical commitment to solar
technology especially in developing countries under the umbrella of
Solar2World.
SolarWorld AG employs 2,254 people worldwide. The company is quoted at the
stock market including listings in the technology index TecDAX, the ÖkoDAX,
the Dow Jones STOXX 600, the international MSCI Index as well as the
sustainability indices DAXglobal Alternative Energy and NAI.

About SolarPark Engineering Co. Ltd.: In addition to operating production
facilities for industrial robots and process automation equipment President
Hyun Woo Park is the owner of the largest sea water aquarium in South Korea
as well as of large-scale prawn production plants in Indonesia.


Contact: 
SolarWorld AG Investor Relations / Marketing Communications,
Tel.-No.: 0228/55920-459 or -470; Fax-No.: 0228/55920-9470,
E-Mail: placement@solarworld.de   
Internet: www.solarworld.de


DGAP 10.12.2008 
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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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