Solar Companies SkyPower and Conergy Form International Joint Venture

Plans to solarize thousands of Commercial Rooftops in Canada

TORONTO, May 21 /CNW/ - SkyPower Limited (Toronto) and Conergy, Inc. (Canada) have formed a landmark international joint venture, which brings forth a powerful portfolio of global expertise to the Canadian marketplace to deploy solar energy solutions on commercial rooftops in Canada.

The two companies plan to lease space from or partner with real estate companies, big box retailers, property owners and Governments to design, finance, build, own and operate rooftop solar systems

"The intention of this partnership is to bring the best technical solutions possible to building owners so they can enjoy the benefits of clean, renewable energy with confidence," said Conergy Canada's Managing Director Jared Donald. "We are bringing a track record of experience and quality engineering to Canada's burgeoning marketplace to optimize Ontario's investment in this important energy realm -- and to help the government meet its target of 100,000 solar rooftops across the province," said Donald.

The joint venture also aims to save building owners time, effort and money by procuring solar (PV) panels compliant with the new domestic content requirements set out by Ontario's Feed-in Tariff (FIT). The Conergy-SkyPower team is currently in active negotiations with many of the world's leading manufacturers of solar panels to make this happen.

Conergy and SkyPower combine successful industry track records, innovative talents, deep and broad industry experience with entrepreneurial strengths to assure building owners that you can have a solar installation while respecting the integrity of rooftop properties while optimizing the investment opportunities of leased rooftop space.

SkyPower brings expertise in project development, planning, contracting, procurement, finance and strong relationships with federal and provincial governments, municipalities, universities and commercial rooftop owners and property management companies. Conergy's global manufacturing, engineering and project execution experience ensures that the partnership provides a technical solution perfectly tailored to the Ontario markets the joint venture will serve. Conergy's extensive dealer network allows the partnership to install projects in all areas of Ontario using only experienced, qualified businesses.

"It is reassuring to see companies such as SkyPower and Conergy working with the Green Energy Act and the FIT program to continue developing renewable energy projects across the province," said Dave Levac, Parliamentary Assistant to the Minister of Energy. "Working together, we will achieve our objectives to build a cleaner and brighter future for Ontario."

"Since first hearing Premier McGuinty's vision for 100,000 solar rooftops installed on Ontario structures, we have spent a tremendous amount of time studying the market, looking at how to effectively meet requirements and optimize lease revenue for property owners," said Kerry Adler, President and Chief Executive Officer of SkyPower Limited "Our new partnership is the most formidable solar joint venture in Canada in that it has the best business formula to help commercial real estate owners, big box retailers and the Ontario Government realize this exciting vision. We look forward to the opportunity to provide clean, renewable commercial rooftop energy projects and to solarizing Ontario Rooftops while becoming a significant participant in the marketplace,"

SkyPower has a successful track record in joint venture projects in Canada such as First Light, Canada's first-ever and award winning solar energy park, located in Stone Mills, Ontario. First Light has deployed 126,000 solar panels spread across 90 acres of land to produce clean, renewable energy for local distribution to meet Canadian interests. SkyPower recently announced the start of construction for two more utility-scale solar projects. The two projects currently under construction when complete in Fall 2010, will produce enough electricity to power 33,000 homes in Norfolk County, Ontario. Construction is scheduled to begin on SkyPower's fourth third utility-scale project in Chatham-Kent, Ontario in early June 2010 and once complete will cut over 250 thousand metric tons of CO2 emissions from the environment. Combined, by end of 2010 SkyPower anticipates it will have over 50MW of installed solar projects in the Province of Ontario.

Conergy works closely with reputable distributors like RESCo Energy to produce efficient, leading edge projects like LoyaltyOne's 163 kW rooftop solution in Mississauga, Ontario. Featuring 796 solar modules producing clean, renewable energy for its owners, it's the largest utility-connected rooftop solar installation in Canada. Conergy brings the expertise associated with 1.25 Gigawatts of successful renewable energy projects worldwide to assist the Canadian marketplace in optimizing the return on its solar energy investments.

About SkyPower Limited

SkyPower Limited is Canada's leading developer of solar energy projects. The company has an extensive pipeline of projects at various stages of development that represent hundreds of megawatts of potential nameplate capacity across North America and Israel. SkyPower prospects, develops, manages, finances, owns and builds solar utility-scale projects and commercial rooftops from initial discovery stages through to commercial operation. SkyPower helps many jurisdictions meet their increasing demand for cleaner, non-emitting renewable energy solutions. For more information about SkyPower, please visit www.skypower.com

About CONERGY

In North America, Conergy supplies, manufactures, finances, designs and installs quality solar photovoltaic solutions for major commercial sectors, public agencies, businesses and homeowners through two distinct channels. Conergy's Distribution Group serves a national network of installers, developers and dealers in the grid-tied and off-grid residential realm, while also addressing the needs of small commercial markets. Conergy's Projects Group focuses on custom solutions for large-scale, energy-intensive enterprises. With operations in 16 countries over 4 continents, Conergy has successfully deployed projects totaling over 1.25 Gigawatts of renewable energy capacity around the world. Learn more at www.conergy.ca.

For further information: Conergy, Inc. Canada, Terri Steele, [email protected], [phone]; SkyPower Limited, Hando Kang, [email protected], [phone]