13 November 2009

At a meeting of representatives of the solar industry in Madrid on Wednesday, the Spanish Minister of Industry, Trade and Tourism, Miguel Sebastián Gascón, announced the pre-registration (i) of PE2, a 30 MW Solar Power Plant based on innovative solar power technology developed by Novatec Solar.

Martin Selig, CEO of Novatec Solar, said: “The announcement is an endorsement of Novatec Solar’s innovative solar power technology and paves the way for construction of the PE2 plant to commence early next year”.

PE2, to be built in the region of Murcia, Spain, will be majority owned by the Swiss power utility, Elektra Baselland. PE2 is a scale up of Novatec Solar’s operating 1.4MW PE1 project, which has successfully demonstrated Novatec Solar's direct steam generating linear Fresnel (ii) technology. PE1 was connected to the Spanish electricity grid in March this year.

Media Contact: Jutta Glaenzel, jutta.glaenzel@novatecsolar.com, +49 721 2551730

About Novatec Solar

Novatec Solar is a solar power technology development company based in Karlsruhe, Germany.

Novatec Solar’s proprietary technology represents a breakthrough in solar energy, providing heat which can be used for electricity generation and other applications. Novatec Solar’s technology has a number of design, environmental and cost saving features that offer significant advantages over current technologies (such as parabolic trough systems). Advantages include:

Novatec Solar’s solar technology is suitable for a variety of applications, including electricity generation in new and existing power plants, as well as process heat for mining, oil and gas, food, paper, textile and chemical industries, and in water desalination plants.

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i The preregistration is required to receive the Spanish feed-in tariff. Once registered, this feed-in tariff will be paid to the plant for a 25 year period.

ii Linear Fresnel technology uses long parallel lines of flat mirrors that concentrate sunlight to heat water in an overhead collector tube, producing steam to drive a conventional steam turbine- generator. (Parabolic dish/trough technology uses curved mirrors, directly heating oil rather than water.)

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