| Solaria

         The projects will be carried out along with the Greek company Positive Energy, which will run the plants while Solaria will be the technology supplier.

         The agreement falls within the company’s internationalization strategy in thriving markets.

Madrid, 1 March, 2011.- Solaria Energía Medio Ambiente, S.A. has signed a strategic agreement to supply 12.5 MW in various PV projects in Greece. The new facilities to be erected in Greek soil will be jointly developed with Positive Energy (www.positiveenergy.gr) an Athens-based company in the energy business.  

This agreement entails construction of several grid-connected plants throughout the country that will benefit from the supported rates offered by the Greek Government for this kind of facilities. Execution of the various projects will kick off in 2011 and will comprise both ground and on-rooftop installations.

In this agreement Solaria will limit its participation to the sale of its latest technology in second-generation photovoltaic modules, which offer the best performance both in electric efficiency and in mechanical resilience and endurance to corrosion, even in salty environments. On the other hand, Positive Energy will be in charge of engineering, procurement and construction of the various projects to be undertaken under this strategic partnership, eventually retaining ownership of the projects.

With this framework agreement Solaria further strengthens its presence in the most thriving international markets. The company’s strategy for 2011 in the Greek market, where already in November 2010 Solaria started up its first PV plant located in the Elassona region is characterized by brand positioning, search of framework agreements for development and construction of solar PV energy projects, power generation and development of operation and maintenance activities.

ERarlierELast week, Solaria released the financial results for FY 2010 with a net result of €6.5 million, up 166% from 2009, with a significantly increased internationalization ratio up to 77% of the company’s total sales.  This strategic partnership with a landmark company such as Positive Energy reflects Solaria’s strong commitment towards internationalization and presence in new markets.

In words of David Carrasco, the company’s Marketing Director, this new project is the confirmation of the good times experienced by Solaria: “Last week we released the 2010 figures, with good profits and a better outlook for 2011 and we are today announcing this strategic partnership in Greece. The vitality of the international PV market is undisputable, and our internationalization strategy shows the market trust in sun energy, a clean, profitable, sustainable kind of energy”. 

On the other hand, Konstantinos Mavros, CEO Positive Energy, said: “Positive Energy is focused mainly in the PV market and this strategic agreement we have signed with Solaria will help us speed up growth”; the Greek executive also added: “Solaria is an internationally renowned brand and its second-generation PV modules are a product we have chosen on quality and efficiency."

About Solaria

Solaria Energía y Medio Ambiente designs, manufactures, installs and distributes photovoltaic and thermal solutions for benefiting from solar energy. Its rapid expansion and technological innovation have positioned it in only a few years as one of the leading companies in the renewable energies industry. Solaria's privileged situation in the market reflects an ongoing search for innovation that results in a dynamic organization, a solid financial structure and an efficient distribution, marketing and sales network. Solaria achieved in 2010 a net result of €6.5 million and an EBITDA amounting €18 million (44% growth). Total sales reached €161.3 million, up 81% compared to 2009. Throughout 2010 the company added 26 MWp to its generation portfolio, an increase of 118% in grid-connected power from the previous year.