PHOTON: Photon Energy announces the signing of an EPC contract for a 1.026 MWp PV power plant

The Management Board of Photon Energy announces the signing of the following agreements with a private investor on 3 November 2009:

1.The sale of its 100% stake in Photon SPV 7 s.r.o. for a consideration of CZK 1.36 million (EUR 51,900, PLN 222,455)
2. The signing of an EPC contract between Photon Energy's fully-owned subsidiary Photon Engineering s.r.o. and Photon SPV 7 s.r.o. for the turn-key construction of a 1.026 MWp photovoltaic power plant . The net contract value is CZK 93.6 million (EUR 3.56 million, PLN 15.26 million)

The location of the power plant is in Sychrov and it is being built based on the project rights acquired by Photon Energy in the acquisition of Aspira Energy s.r.o. as announced on 27 August 2009 (EBI report 23/2009). The project rights were later transferred to Photon SPV 7 s.r.o.

The project and construction work has been initiated and Photon Energy foresees the completion and connection of the power plant to the electricity grid before the end of 2009. In case that the power plant's grid connection is delayed to 2010 the net EPC contract value is reduced by approximately CZK 4.16 million (EUR 158,000, PLN 677,300).

Photon Energy and its board members are unrelated to the private investor in this transaction.

Legal basis: § 3 ust.2. of the Appendix 1 to Resolution No. 363/2009 of the Warsaw Stock Exchange Management Board dated 27 July 2009 "Current and Periodical Information in the Alternative Trading System".

Osoby reprezentujące spółkę:

• Michal Gartner - Chairman of the Board of Directors
• Georg Hotar - Vice-chairman of the Board of Directors