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Solairedirect_Press release v2


									    Solairedirect leads the National Solar Mission bidding
        process in India and shows the way to grid parity
Solairedirect was selected on December 2nd by the Government of India as the best
bidder in the second round of bidding for the National Solar Mission with a rate of 7.49
Rs/kWh (109 €/MWh) for a 5 MW project in Rajasthan.

Solairedirect SA, France’s second largest solar power producer, won the bid for the 5-MW
project to sell electricity as part of the 350-MW photovoltaics-based solar projects Batch II of
Phase I of the National Solar Mission. Solairedirect emerged as the best bidder with a 7.49
Rs/kWh quote for a 5-MW project in the North-western state of Rajasthan, which boasts the
country’s highest solar irradiation.

The bids were presented before NTPC Vidyut Vyapar Nigam (NVVN), the power trading arm
of National Thermal Power Corporation. Of the 400 bidders that had submitted quotes 160
were shortlisted for their proposal. The tender attracted bidders from around the world (India,
Germany, USA, UK, France…) with a total of several GW of projects, and was structured as
a reverse auction. Next to Solairedirect’s bid were major Indian companies such as Welspun
and Mahindra, as well as global solar players such as Sun Edison.

Commenting on this win, Thierry Lepercq, Chairman Solairedirect said,” India is one of the
key markets in addition to South Africa, Chile, Morocco, Thailand, and Malaysia etc. where
the company has entered recently. Solairedirect would like to set-up very large solar power
plants across states in the country and would welcome assistance of local governments on
land and grid evacuation availability.”

Solairedirect started its India operations in 2010 by setting-up its subsidiary Solairedirect
Energy India Private Limited headed by Gaurav Sood, the India Managing Director.
According to Gaurav Sood, “we are proud in setting this low cost benchmark and making
solar energy as a very competitive & important source in the energy mix of the country.
Solairedirect has established a clear competitive leadership which will be translated into a
state-of-the-art solar power plant at the earliest next year producing most competitive solar
power in the country.”

   A key milestone that brings solar power into the real world of energy

This result was made possible by Solairedirect’s pioneering strategy in the solar industry:

       A vertically-integrated business model, from module manufacturing to EPC and O&M
        and long term equity investing that allows for significant capex and cost reduction
        while trimming risks as well. This model helps the company to take the best
        advantage of the dramatic fall of cell and module prices over the last 12 months;
       A positioning as a true IPP (Independent Power Producer) which focuses on
        engineering the highest value for a solar MWh, as evidenced by the recent signing of
        Europe’s first market-based solar PPA (Power Purchase Agreement);
      The proven ability to generate investor confidence, both locally and globally, and raise
       massive amounts of financing (500 million euros to date) from prudent investors
       (which tend to demand lower returns and hence reduce the cost of capital);
      The capacity to establish relationships and joint ventures with local industrial and
       financial partners and stakeholders (including local governments) in such locations as
       France, South Africa – and India;
      The capacity to attract managerial talent and generate local empowerment:
       Solairedirect’s success in the NSM auction was built around an Indian team led by
       Gaurav Sood, Managing Director of Solairedirect Energy India Pvt. Ltd., based in
       Pune (Maharashtra), the company’s Indian subsidiary established in July 2010.

By leading the JNNSM bidding Solairedirect shows the way forward for the solar industry, out
of feed-in tariffs and other incentives and into the real world of energy, competing – and
combining – with other sources of energy.

Of particular interest is the fact that India uses more than 50 GW of diesel generation, a large
part of which can now be displaced by solar power, which is now proven to be substantially
less expensive by the latest round of JNNSM bidding. At the same-time the prices of coal-
fired electricity are being hiked substantially, making an even bigger case for solar power

This is a huge opportunity that Solairedirect, along with its Indian partners, intends to seize –
now. Its success in the JNNSM bidding establishes the company’s pioneering position in the
race for universal solar – local, clean, abundant and affordable energy for the common man.

Solairedirect India would be participating across other state programmes on its own & in
partnership with other companies and will provide its technical expertise towards building
high quality & high performing solar PV plants. Sood says we are looking forward to forging
stronger ties with companies and other developers over the next months to increase our PPA
pipeline and EPC business.

Incidentally, last week in France, Solairedirect and the regional government of Poitou-
Charentes signed Europe’s first power-purchase agreement for solar energy with Soregies, a
local utility to build 60 megawatts in photovoltaic capacity and sell the power over 30 years at
prices as low as 108 euros a megawatt hour. It was the first major market-based PPA in
Europe ever signed for solar systems.

About Solairedirect:

Solairedirect is the first French solar-focused IPP. The company is present throughout the
whole photovoltaic chain from modules downwards and has built and operates 120 MW in
rooftop and ground-mounted systems by the end of 2011. Solairedirect offers innovative
turnkey services (development, engineering, installation, finance and operations) and
guarantees high-performance photovoltaic solutions at the best rates. The company is
present on four continents, has 300 employees and estimated revenues for 2011 of € 210

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