Conergy Group CGY.DE, Santa Fe office, Frankfurt Stock Exchange, huge partner in NanoSolar, now a bargain at 12.41 Euros? Rich Murray 2008.05.25

[Rich Murray]

Conergy Group CGY.DE, Santa Fe office, Frankfurt Stock Exchange, huge
partner in NanoSolar, now a bargain at 12.41 Euros? Rich Murray 2008.05.25

! ?   In mutual service,  Rich Murray rmforall at comcast.net  505-501-2298

http://www.conergy.us/desktopdefault.aspx/tabid-267/236_read-8849/

News
Conergy Introduces SolarGiant Ground-Mount Array in North America
12 March 2008

Cost-effective and flexible solution, proven through extensive use in
commercial, agricultural and utility scale PV installations throughout
Europe

Denver, Colorado, March 12, 2008 -- Conergy introduced its SolarGiant NA
ground-mounted PV array structure. Designed expressly for the North American
market and intended for use in commercial through utility-scale PV projects,
the SolarGiant NA provides a particularly flexible and cost-effective PV
mounting solution.

Key to the SolarGiant's cost-effectiveness is module installation and
grounding. The SolarGiant uses a high-strength, proprietary rail system that
allows modules to be simply slid into place, dramatically decreasing
installation time. The SolarGiant's unique, proprietary Electriwedge
grounding system, developed in cooperation with Wiley Electronics LLC
quickly locks the modules in place and provides electrical continuity
throughout the array.

"We're excited about the SolarGiant NA and the unique features and
advantages it brings to the commercial PV market," said Don Massa, Mounting
Systems Product Manager for Conergy. "We recognize that labor costs make up
a large portion of project's cost and the SolarGiant helps installers
minimize that cost component while providing a structurally robust and
esthetically pleasing product."

The fixed-tilt SolarGiant can be field-set for tilt angles from 15? to 35?.
It can be mounted conventionally on or in caissons but was designed
primarily for surface mounting on simple concrete footers. The SolarGiant's
simplified structure has been carefully designed to reduce the number of
labor- and cost-intensive mounting points while still allowing it to
withstand wind loads up to 120mph. A Conergy SolarGiant White Paper is
available for download.

Images:

3D Schematic

Field Installation
About Conergy

Conergy AG is one of the world's largest companies 100% dedicated to
renewable energy with an array of premium manufactured products and over
70,000 solar systems installed worldwide.

Listed since 2005 on the Frankfurt Stock Exchange, the group pursues a
global growth strategy: it produces, installs and plans solar systems for
its customers in more than 20 countries.

The Conergy Group is now represented by branch offices on four continents.

In the US, Conergy is a manufacturer and distributor of premium quality
solar electric, solar thermal, solar water pumping, and wind power solutions
to a national network of authorized dealers.

For additional information:
Don Massa
Product Manager - Conergy Mounting Systems
2480 W. 26th Ave., Ste. 26-B
Denver, CO 80211 USA
720-305-0716 (direct)
d.massa at conergy.us

http://www.conergy.us/desktopdefault.aspx

Conergy, Inc.
Phone: [phone]
Fax: [phone]
Toll Free: 888 396-6611 (USA)

Santa Fe office:
1730 Camino Carlos Rey, Suite 103
Santa Fe, NM 87507

Albuquerque office:
7007 Wyoming Blvd NE, Building C
Albuquerque, NM 87109


http://www.nanosolar.com/cache/edn.htm

News and New Products
A solar panel on every building
Claiming to be the first solar manufacturer capable of profitably selling
solar panels that generate at as little as $0.99/W, Nanosolar has shipped
its initial product after 5 years of development.
By John F. Mason, Contributing Editor -- Electronic Business, 1/21/2008

After 5 years of product development, Palo Alto, Calif.-based Nanosolar Inc
has shipped its first product. The lucky winner was a local power plant
installation in Eastern Germany -- lucky because the company's products are
sold out till 2009.

Nanosolar's products boast an impressive list of the world's firsts. R.
Martin Roscheisen, the company's CEO, recently announced the first printed
thin-film solar cell in a commercial panel product, the Nanosolar Utility
Panel; the first thin-film solar cell with a low-cost back-contact
capability; the lowest-cost solar panel, which would make Nanosolar the
first solar manufacturer capable of profitably selling solar panels that
generate at as little as $0.99/W; and the highest-current thin-film solar
panel, delivering 5 times the current of any other thin-film panel on the
market.

One of the commercial panels will remain at Nanosolar for exhibit; another
will go to the Tech Museum in San Jose; and a third was to be auctioned off
on eBay, "which dropped the auction when they learned we planned to give the
proceeds to charity," Roscheisen said.

In April, Nanosolar broke the news that it had spent $100 million to build a
plant to produce sheets of solar cells equipped with an absorber 100 times
thinner than that needed for a silicon wafer cell that would deliver a
similar performance and the durability of a cell. Its sheets, which were
cost-efficient for widespread deployment, could be mass-produced on a global
scale and would be available in many versatile forms. They were bendable and
designed to be durable for decades. The technology is based on the economics
of printing non-vacuum/solution-coated material.

The Department of Energy recently boosted the company's funds and prestige
by choosing it for the high-profile Solar America Initiative along with
SunPower, First Solar, and General Electric.

"Following its sale to Germany, Nanosolar has a credible path toward
shipping $10 billion worth of high-ops-margin products to commercial
customers with a simple and predictable sales model," said Roscheisen
(pictured). "Even if we make this goal, the company would still only have a
single-digit market-penetration percentage. So there will be attractive
returns for long-term investors of all types and sizes. We are also sold out
until 2009."

Nanosolar maintains a worldwide network of partners for development,
manufacturing, and distribution. In August 2006, Nanosolar and the Conergy
Group in Hamburg, Germany, signed a long-term agreement to develop
large-scale photovoltaic systems with a proprietary design to tightly
interconnect its panels on a variety of surfaces. Conergy's knowledge and
expertise in the development and integration of state-of-the-art components
and Nanosolar's experience in the design of solar cells and panels based on
thin-film device technology will make Nanosolar's dream come true: "a solar
panel on every building."

On December 18, 2007, Nanosolar and Germany's Beck Energy, an integrator of
large-scale solar power systems, announced having won a highly competitive
public selection process for a solar power plant owned by one of the largest
waste management companies in Eastern Germany.

The project will employ the Nanosolar Utility Panel in combination with
systems technology and services from Beck Energy. The initial size of the
plant is 1 million watts, an amount sufficient to power approximately 400
homes. The Nanosolar Utility Panel is Nanosolar's first product as part of
its award-winning PowerSheet product line and the company's solution for
building solar power plants at the outskirts of urban centers.

"This is the first time that a solar electricity cell and panel have been
designed entirely and specifically for utility-scale power generation,"
Roscheisen said. "It will set the standard for green power generation at
utility scale."

Solar-electric power plants have advantages over solar-thermal plants,
coal-fired, and other conventional plants, as they are more economical and
can be built in a variety of sizes and fit into places not intended for
energy-producing plants, Nanosolar boasts.

The company is preparing to offer solar electricity products to volume
business customers including the Nanosolar PowerSheet, a A-100 cell
technology delivered in an industry-standard package that ensures premium
lifetime and full compatibility with existing mounting and installation
practices; Nanosolar SolarPly, its flagship building-integrated product that
acts as a solar-electric "carpet" for integration with commercial roofing
membranes; and Nanosolar Utiliscale, a product specifically designed for
large-scale, ground-mounted plant installations.

The United States is number 1 in the world's potential for solar growth.
With a newly installed total power of around 105 megawatts in 2005, the US
market constitutes the 3rd largest for photovoltaics. Around 75% of these
systems have been installed in California. According to a number of studies,
the US photovoltaics market will grow to an annual installed capacity of
between 300 to 400 megawatt peak by 2010. Conergy, through its partnership
with Nanosolar, intends to substantially expand in North America.

In Europe, Conergy is ahead of the game. With an expected revenue of more
than $1.13 billion (800 million euros) in 2007 and 1,300 employees, Conergy
is the largest solar company in Europe, and is also an international
supplier for wind and bioenergy companies. Conergy has branches on 5
continents with plans to expand into North and South America, the
Mediterranean, Asia, and Australia.

In the US, Conergy distributes solar products to its branches from Santa Fe,
N.M.

>From its affiliate SunTechnics Energy Systems Inc in Sacramento, Calif., it
sells and installs renewable energy systems; and via Voltwerk LLC in New
York it develops and finances large solar, wind, and bioenergy projects.


http://en.wikipedia.org/wiki/Conergy

Conergy
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Conergy AG was founded in 1998 by the current chairman of the board
Hans-Martin R?ter. With an expected turnover of 1,25 billion euros in 2007,
and employing more than 2000 staff currently, Conergy is one of the leading
solar energy companies in Europe. The company pursues a customer-focussed
global strategy of growth that aims to offer every energy consumer worldwide
the most suitable technology in markets that are attractive for renewable
energy. As a manufacturer of solar-thermic, photovoltaic and wind
components, Conergy supplies exclusively via commercial partners. Conergy
uses this tried and trusted know-how in order to offer tailor-made
components and complete systems for optimal exploitation of solar energy and
in order to continually develop them further.

Since March 2005 Conergy AG has been registered at the Frankfurt Stock
Exchange with the abbreviation "CGY" and the ISIN DE 00060 40025.

Three months after its successful IPO, the company is now listed on the
TecDAX.

Based on the healthy European market position and a scalable company model,
Conergy has been increasingly building a presence in further attractive
foreign markets.

Conergy now operates subsidiaries in 25 countries on five continents. As
well as expansion into the most promising solar markets worldwide, Conergy
plans a customer-oriented diversification of its product range. With this
strategy Conergy will achieve greater balance against temporary fluctuations
in regional markets. Via three brands, which are clearly delimited relative
to each other, the Conergy group serves solar wholesalers, installers,
industrial or private roof-owners and investors in solar power as required.
In this way the respective customer wishes can be tackled and implemented by
specialist sales teams - a key factor for the success of the Conergy Group.
Potential for growth is additionally created by extension of the solar
portfolio based on needs, for instance with large solar-thermic plants and
solar cooling systems.

Currently, Conergy AG is building its fully automated, state-of-the-art
wafer-, cell- and module plant in Frankfurt (Oder). By the end of 2007 up to
50 MW of modules will be produced on site. From 2008 on, the wafer, cell and
module production lines will reach their full capacity of up to 250 MW of
modules annually, about 1.25 Mio. modules respectively. The modules will be
used for Conergy's international sales channels.

In the medium term, Conergy will create 1000 jobs on site thus contributing
significantly to the solar industries in Germany.

[edit] See also

    * First Solar
    * Q-Cells
    * Solarworld
    * Sunpower
    * Vestas

[edit] External links

    * Official international website


http://www.renewable-energy-industry.com/business/press-releases/newsdetail.php?changeLang=en_GB&newsid=2755

Current press releases from the energy industry

06 February 2008
[Zur englischen Meldung]   [Zur deutschen Meldung]

Conergy secures financing for turnaround and further growth

- Reconstruction measures yield first results
- Financing package agreed a month ahead of schedule

Hamburg -- Conergy AG has secured follow-up financing with the support of a
banking consortium.
Commerzbank AG and Dresdner Kleinwort have provided the TecDax-listed solar
energy company with additional liquidity of a total of ? 240 million.
In addition financial Covenants have been waived for the fiscal year 2008.
Conergy AG intends to use the additional funding mainly for necessary
investments, the early purchase of materials including for the solar factory
in Frankfurt (Oder) and to pre-finance projects pertaining to the subsidiary
EPURON in Hamburg.
Earlier, in a provisional statement on the restructuring opinion, a
prestigious, internationally active accountancy firm gave a positive
evaluation of the Hamburg-based solar energy company's restructuring as
initiated by the Board of Management.
The EUR 30 million credit line accorded in November 2007 and available until
the end of February has not been used by Conergy; this is included in the
EUR 240 million interim financing provided.

CEO Dieter Ammer: "Banks support turnaround and growth."

Conergy's CEO and co-founder Dieter Ammer comments:
"We thus have our financing signed and sealed a month ahead of schedule.
We are on the right track and are delighted that our banks support our
turnaround and our growth strategy.
With these additional funds we have sufficient room for manoeuvre.
At the same time, we see this as a confirmation of the new strategic focus
on solar energy, which we have already initiated.
Since December we have been systematically implementing our planned measures
through which we are steering Conergy back towards profitability."

Major current shareholders want to participate in the company's
recapitalisation

The repayment of the interim financing is to be achieved first and foremost
by carrying out a capital increase of around EUR 250 million during 2008.
Furthermore, a reduction of working capital and proceeds from the
divestiture of Discontinued Operations should contribute to improving
liquidity.
The total volume of the capital increase is guaranteed by Dresdner Kleinwort
subject to the usual banking provisos.
Third parties have provided security for 50% of this by means of firm equity
commitment letters or firm underwritings.
Details of the capital increase have not yet been decided and will be
determined shortly before the transaction.

During the recapitalisation current and major shareholders have already made
a significant contribution and have promised more.
This once again underlines the confidence of the major shareholders in the
company's future.
Mr. Otto Happel alone will take a 25 per cent share in the planned capital
increase, after actively supporting the company's reconstruction during the
past months and pledging his further commitment in the future.
Several major investors have also expressed their interest in participating
in the capital increase.

Reorganisation yields first results; cost structure improvements in line
with plan

The strategic refocusing of Conergy AG on the profitable and fast-growing
solar energy business is proceeding according to plan.
This process includes focus on photovoltaics, in both manufacturing and
systems integration, on businesses with strong margins as well as on
streamlined, efficient processes and structures.
On January 1st the Board of Management introduced a central corporate
function and three independently operating divisions.
Conergy is currently pressing ahead with the discontinuation of
non-strategic activities (for instance, the manufacture of heat pumps,
biogas activities, solar heating collectors); this should be completed by
the middle of the year.

With the focus on photovoltaics, the securing of liquidity, the securing of
materials supplies and with the appointment of the new management, the
strategic and operational problems that led to the liquidity bottleneck have
been resolved.
First signs of progress are already visible; inventories have been reduced
by a cash-effective EUR 36 million over the last 10 weeks.
The task of reducing the working capital will be continued in 2008.
The manpower reduction of 500 staff, which has already begun, is going also
according to plan.
In connection with cost-cutting measures, the Board of Management is also
currently putting in place significantly streamlined structures in the
central corporate functions.

Meanwhile a series of operating successes have been achieved:
in Australia Conergy's subsidiary EPURON entered into a strategic
partnership with Macquarie Capital for the planning of a 1000 MW wind energy
project involving a probable investment of around AU $ 2 billion.
In the USA, Conergy's subsidiary SunTechnics installed the U.S. Army's
largest solar system at the Fort Carson Army Base, Colerado.

With the factory in Frankfurt (Oder), the company owns one of the most
modern solar cell and module manufacturing facilities.
A major German technical inspection company conducted an initial inspection
of the new cell and module production and stated in their report that they
were convinced by the "highly automated and modern manufacturing facility".
The long-term supply of materials, which has been secured and which begins
this year, will enable the factory to work at part-capacity in 2008 and at
full capacity from July 2009 onwards.
This is expected to make a significant contribution to income.


Conergy Group: Provisional Figures for sales and income 2007

In the fiscal year 2007, the Conergy Group recorded sales of EUR 845 million
(2006: EUR 752 million) before taking into account changes in accounting
methods and with the former structure.
For the fiscal year 2007, however, the Board of Management changed the
accounting method for ongoing large-scale projects.
This led to a postponement of sales to later reporting periods.
At the same time, adjustments for Discontinued Operations were also
reflected in the new accounts. Including these adjustments, provisional
sales for the fiscal year 2007 were around EUR 712 million (2006: EUR 682
million).

Below, the Board of Management publishes key figures from the provisional,
as yet unaudited Group accounts for the Conergy AG as of December 31st 2007,
compared with values for the 2006 fiscal year, which have been adjusted for
the sales and results of Discontinued Operations (DOP) and for the effects
of changes in accounting methods for large-scale projects.

Million EUR 2007 2006
Sales 712 682
Gross profit 94 107
EBITDA -174 24
EBIT -210 19
EBT -229 13
Taxes on income* 72 -4
Result before DOP -157 9
Result DOP -37 -1
EAT -194 8

* provisional figure

By far the major part of the one-time changes in asset valuations and in
accounting methods for large-scale projects implemented in 2007 were
non-cash items.

The Discontinued Operations (DOP) are reported as a separate line item,
after taxes. Losses from these operations amount to EUR - 37 million (2006:
EUR - 1 million).

By far the major part of the taxes shown reflects deferred taxation. The
figure shown is a provisional figure. There may be significant changes to
the figure, which will not be cash-effective, however.

Outlook

2008 will still be a year of turnaround. The Board of Management of Conergy
AG expects significant growth in sales to more than EUR 1 billion for the
continuing operations. The Board of Management also plans a significant
improvement in gross profit and a substantial improvement in EBITDA. The
Board of Management is targeting breakeven at EBITDA level before special
items.

In connection with the refinancing now undertaken, the company will have to
pay considerable one-off consultancy fees and financing costs in 2008 as
well. Without taking into account this and other special and one-time items,
but after depreciation and the cost of financing, the Board of Management
thus again expects significantly negative earnings before tax (EBT) in the
high double-digit millions.

For the ongoing business in 2009, the Board of Management plans further
significant growth in sales and a positive operating result (EBIT) in the
double digit million region. From the second half of 2009 the company is
aiming for margins well in line with those in the industry with the solar
factory in Frankfurt (Oder) working at full capacity.

About Conergy

Conergy AG is the European solar enterprise with the highest sales and, with
over 70,000 solar systems installed, is also a global market leader in the
field of solar system integration. Listed since 2005 on the Frankfurt Stock
Exchange, the group pursues a global growth strategy: it produces, installs
and plans solar systems for its customers in more than 20 countries. The
Conergy Group is now represented by branch offices on four continents.

Hamburg, 06 February 2008

Publication and Reprint free of charge; please send a voucher copy to
Conergy AG.


Attention editorial offices: For further questions please contact Mr.
Thorsten Vespermann, Conergy AG.
Anckelmannsplatz 1  20537 Hamburg
PR Department: Mr. Thorsten Vespermann
Phone: [phone]
Fax: [phone]
E-Mail: mailto:press at conergy.com
Internet: http://www.conergy.com

all company news of Conergy AG


http://www.streetauthority.com/terms/index/daxindex.asp

Germany -- DAX Index

The DAX Index is the most commonly cited benchmark for measuring the returns
posted by stocks on the Frankfurt Stock Exchange.
Started in 1984 with a value of 1000, the index is comprised of the 30
largest and most liquid issues traded on the exchange.
It is a performance-based index, which means that any dividends and other
events are rolled into the index's final calculation.

Additional Information:
Frankfurt Stock Exchange
Bloomberg DAX Page


http://uk.finance.yahoo.com/q?s=CGY.DE

http://uk.finance.yahoo.com/q/bc?s=CGY.DE&t=5y  3 years history

[ was 190 E in spring, 2006, 70 E in fall, 2007, now 12.41 E ]

Last Trade: 12.41 ?
Trade Time: May 15
Change: Down 0.04 (0.32%)
Prev Close: 12.41
Open: 12.30
Bid: 12.23
Ask: 12.36
1y Target Est: 12.60?

Day's Range: 12.15 - 12.50
52wk Range: 10.50 - 69.91
Volume: 282,842
Avg Vol (3m): 348,432
Market Cap: ?409.52 M
P/E: N/A
EPS (Growth) : -7.57? (3.77%)
Dividend: 0.10?
////////////////////////////////////////////////////////////////////////////////////