Solar Semiconductor Announces Strategic Supplier Relationship with SolarWorld AG

HYDERABAD, INDIA AND SUNNYVALE, CALIF., (PresseBox) - Solar Semiconductor strengthened its position as a rapidly growing international manufacturer of high-quality solar photovoltaic (PV) modules today by concluding a comprehensive delivery agreement with SolarWorld AG subsidiary Deutsche Solar AG, which operates one of the largest factories worldwide for the production of multi-crystalline solar silicon wafers. The agreement is a multi-year contract for the delivery of wafers worth over $1.2 billion U.S. dollars (750 million euros).

Significant and Proven Step Ensuring a Steady Module Supply

"We are very pleased to conclude a long term wafer-delivery agreement and are proud to be associated with SolarWorld AG," commented Hari Surapaneni, Chief Executive Officer of Solar Semiconductor. "Solar Semiconductor has a reputation for delivering the highest quality modules to the global marketplace. One of the key raw materials is the cell which derives its high quality from the source wafer. As a rapidly growing manufacturer of high-quality modules, it is important to assure our customers that we not only use cells from reputed manufacturers, but also employ high-quality wafers to ensure high-quality cells. With the addition of Deutsche Solar AG as our strategic supplier, we are continuing our tradition of exclusive partnering with world-class organizations."

Capacity Utilization Ensured

"We value our partnership with Solar Semiconductor who is known for high quality and proud to be associated with Solar Semiconductor as our long-term business partner. With this wafer contract we are securing the capacity utilization of the first expansion stage of our new wafer factory in Freiberg," said Dipl.-Ing. Frank H. Asbeck, Chairman and Chief Executive Officer of SolarWorld AG. Shortly, the Group will start construction of the new wafer factory in an industrial park near Freiberg, Saxony. In the first expansion step the capacity at the Saxony location will be increased to a total of 750 Megawatts (MW) by adding 250 MW by the end of year 2009. The ground-breaking ceremony for this new, highly advanced industrial complex of the SolarWorld Group will take place on July 7, 2008.

About Solar Semiconductor

Solar Semiconductor is a global producer of innovative, high-quality PV modules using mono- and multi-crystalline cells and offers its products and services to the worldwide solar PV module market. As a socially responsible, global energy producer, Solar Semiconductor offers an unwavering commitment to its customers. Awarded the prestigious ISO 9001 certification for its advanced manufacturing plant Solar Semiconductor focuses its attention on customers' power and efficiency needs for today and tomorrow. For more information, visit www.solarsemiconductor.com.

SolarWorld AG

The SolarWorld AG group of companies (ISIN: DE0005108401) is a world leader in high quality solar power technology. The company is involved at all levels of the solar value chain and combines all activities of the industry from silicon as the raw material to turn-key solar power systems. SolarWorld AG is represented in all international solar growth markets. The Group is exclusively dedicated to its core business of supplying systems for photovoltaic power generation, and operates production facilities in Germany and the USA. These, in turn, supply the SolarWorld AG sales offices in Germany, Spain, USA, South Africa and Singapore with products. In South Korea, SolarWorld AG is currently building up a solar module production facility in order to be able to serve the growing demand in Asia in the future. A central element of the business in addition to the sale of turn-key solar systems and solar modules to retailers is the distribution of solar silicon wafers to the international solar cell industry. Apart from grid-coupled (on-grid) products the SolarWorld Group also sells off-grid solar power solutions that make an important contribution to the sustainable economic development of threshold and developing countries. Under the campaign "Solar2World" the Group has pooled its ethical commitment to solar power especially in developing countries.

SolarWorld AG employs about 2,000 people worldwide. At the stock market the company is listed among others in the technology index TecDAX, in the ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI index, as well as in the sustainability indices DAXglobal Alternative Energy and NAI.

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