ET Solar builds 50MW solar PV projects in Romania

Tuesday, Nov 20, 2012

NANJING, China, Nov. 19, 2012 /PRNewswire/ -- ET Solar Group Corp. ("ET Solar"), a leading one-stop solar PV solution provider, today announces that they have been awarded to build various PV plants in Romania totaling 50MW for Tinmar-Ind S.A. ("Tinmar"), one of the top Romanian power supplier and energy trading companies.

These plants are located in three counties in Southern Romania, Gorj, Giurgiu and Dolj. Over 20MW are now under construction and expected to be largely completed before the end of 2012. The grid connection and electricity feed-in is expected to take place in the first quarter of 2013. The remaining 30MW are currently under planning with the construction to start before the end of this year.

Under the agreement between ET Solar and Tinmar, ET Solar acts as the exclusive PV module supplier, and ET Solutions AG, the German subsidiary of ET Solar, provides engineering, procurement and construction and construction financing. Operations & maintenance services for these plants will also be provided by ET Solar.

Mr. Dennis She, President and CEO of ET Solar, commented: "This award represents a major achievement for our system business in the emerging markets. With years of experience we acquired in Germany and Italy, we are well positioned to offer these markets high quality and cost effective EPC solutions."

Mr. Augustin Oancea, CEO of Tinmar, added "We are very pleased to collaborate with ET Solar as our strategic partner for these projects. ET Solar has demonstrated to be a true one-stop solution provider given its strong ability to provide high quality module products, innovative turnkey solutions and tailor-made financing arrangement.

ET Solar established a Romanian subsidiary in Bucharest this July.

About ET Solar

ET Solar is one of the globally leading solar one-stop solution providers. With local sales and marketing subsidiaries and offices in Asia, Europe, and North America, ET Solar has provided solar modules, turnkey solutions services and PV balance of system components to its customers in over 50 countries. To learn more about ET Solar, please visit http://www.etsolar.com.

About Tinmar-Ind

Established in 2001, Tinmar-Ind is the biggest privately owned Romanian energy provider and is controlled by businessman Augustin Oancea. Based in Bucharest, since 2008 Tinmar-Ind has expanded its electricity trading business into other European markets: Hungary, Greece, Serbia, Bulgaria, Austria and Germany. To learn more about Tinmar-Ind, visit http://www.tinmar.ro.

SOURCE ET Solar Group Corp.