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Germany Follows U.S. Lead in PV Pork Funding

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Posted by BBB on August 23, 2005, 10:47 am
 
German Chancellor Meets With Evergreen Solar and Q-Cells; Visit is Further
Validation for Solar Power's Growing Economic Importance

THALHEIM, Germany--(BUSINESS WIRE)--June 8, 2005--German Chancellor Gerhardt
Schroeder met yesterday with Evergreen Solar (Nasdaq: ESLR) and Q-Cells AG
in Thalheim, Germany, the city where a new $5 million solar panel
manufacturing plant will be constructed by EverQ, a recently announced
strategic partnership formed by the two firms. The Chancellor also met with
CSG Solar AG, a Thalheim-based developer of solar panels.

  Evergreen Solar President and CEO Richard Feldt (center) tours the Q-Cells
plant in Thalheim with German Chancellor Gerhardt Schroeder (right) and
Q-Cells CEO Anton Milner (left). Photo: Business Wire

Evergreen Solar, based in Marlboro, Massachusetts, is a manufacturer of
solar power products that leverage its proprietary, low-cost String
Ribbon(TM) wafer technology. Based in Germany, Q-Cells is the world's
largest independent manufacturer of crystalline silicon solar cells.

"This is a great example of how environmental sensitivity and economic
efficiency go together," Schroeder said. "Solar power has the potential to
secure the future energy supply in Germany and worldwide."

The German government plans to provide the new EverQ manufacturing facility
with grants totaling approximately $4 million at current exchange rates.
Construction is set to begin in August and the plant is expected to create
between 350 and 400 new jobs in the area. In total, the solar industry
employs approximately 30,000 in Germany and created 5,000 new jobs for the
country in 2004 alone. "Public funding of solar energy makes sense not only
economically but also in terms of energy policy," Schroeder stated.

The solar power, or photovoltaic, market was over $ billion in 2004 and is
growing at more than 40 percent per year. Germany is the world's largest
solar power market today, accounting for 40 percent of worldwide spending in
2004. Markets in Japan and the United States rank second and third,
respectively.

"Evergreen Solar is establishing itself as a technology leader," stated
Evergreen Solar President and Chief Executive Officer Richard M. Feldt. "Our
ability to innovate and significantly reduce solar power manufacturing costs
is the foundation upon which this strategic partnership was established. We
believe the combination of our String Ribbon(TM) technology with Q-Cells'
high efficiency cell processing and proven ability to scale manufacturing
plants will enable us to become a world leader in the solar power industry."

"Germany has created a model for economic development by supporting the
solar power industry that is now being emulated by nations throughout Europe
and the world," Feldt concluded. "The continued strength of the German
market and the increase in solar power adoption globally is helping to fuel
Evergreen's continued expansion. We are eager to commence construction with
Q-Cells on the EverQ plant, which we anticipate will be fully operational in
the summer of 2006."

 http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ESLR&script@0




Posted by Tim Keating on August 23, 2005, 2:51 pm
 


My response directed at title of this thread..
    It's not pork, but a very wise investment in the future.


   Even better..  they invest in a firm which build a local PV
manufacturing plant, directly employing hundreds of  Germans.
  

   75 Million plant investment  verses 34 million in grants..


   350 to 400 new jobs.. that's not bad..

Especially when compared to "Intel's" feeding at the tax payer trough

http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/111641012092140.xml&coll=7
"Washington County and Hillsboro officials sign off on a package they
estimate would save the chip maker $79 million".

   A secondary benefit is that unlike "Intel's" energy wasting product
lineup;  Evergreen's products help reduce Germany's dependency on
fossil fuels..



Posted by Christian Kaiser on August 23, 2005, 5:31 pm
 This is not new
(http://aktien.onvista.de/news-filter.html?ID_OSI37478&HO=4&DATE_RANGE=archive&ID_NEWS0229827 ,
http://aktien.onvista.de/news-filter.html?ID_OSI37478&HO=0&DATE_RANGE=archive&ID_NEWS1847769 )
and at least the
stock exchange has become more careful than in January... maybe they waited
for this to happen?

http://aktien.onvista.de/charts.html?ID_OSI37478

http://aktien.onvista.de/charts.html?ID_OSI_OLD37478&MONTHS6&ID_NOTATION_BENCHMARK24985&SHOW_TECH_FIGURES=0&WKN=&ID_EXCHANGE=NMS&DISPLAY=1&SCALE=1&SUPP_INFO=0&GRID=1&MA1=0&MA2=0&VOL=1&COMP_IND=0&SIN_COMP=&IND1=0&IND2=0&send.xV&send.y=4#chart_01

This does NOT mean that I think this is a bad idea, it's just that the only
news is that (Nearly-Ex-)Chancellor Schröder visited them and promised them
the grants they worked half a year for:

"Given that the facility is expected to add 350 to 400 new jobs, the joint
venture intends to seek support from the German government in funding the
project. Adjusting for any investment support grant, Evergreen Solar and
Q-Cells will share the remaining construction costs on a pro rata basis."
(cited from the news of January).

Let's see - in about 3 weeks we have new elections, and the other party is
against supporting alternative energy in the amout it is currently being
done.

Christian



Posted by John Beardmore on August 23, 2005, 6:44 pm
 

Yes, but try running the http://www.climateprediction.net  client on a PV
panel !


Cheers, J/.
--
John Beardmore

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