PHOENIX (PHO): Photon Energy announces the closing of the bank financing for 4 x 1 MWp projects in Slovakia with UniCredit Bank Slovakia - raport 57

The Management Board of Photon Energy a.s. announces that on 16 September 2010 the four project companies SUN4ENERGY BB, s.r.o., SUN4ENERGY ZVB, s.r.o. and SUN4ENERGY ZVC, s.r.o. (in which Photon Energy a.s. holds 66% equity stakes, see also EBI report 27/2010) and Fotonika s.r.o. (in which Photon Energy a.s. holds a 60% equity stake, see also EBI report 46/2010) closed the project financing for the construction of all four 999 KWp photovoltaic plants in Slovakia. The total loan amount for all four projects is EUR 9.92 million (CZK 244.25 million, PLN 39.04 million), the loan tenure is 14 years bearing interest at 3.0% above the reference rate.

All four project companies signed turn-key contracts with Photon Engineering Slovensko s.r.o., a fully-owned subsidiary of Photon Energy a.s. (see also EBI report 42/2010), with a total volume of EUR 11.37 million (CZK 279.8 million, PLN 44.72 million). The four plants will be built using amorphous silicon thin-film modules produced by Taiwanese manufacturer Sunwell and SMA 7000 HV string inverters.

Photon Energy a.s. plans to complete and connect all four plants in 2010Q4 and intends to hold its equity stakes as part of its proprietary portfolio long-term together with its Slovak partners SUN4ENERGY s.r.o.

Photon Energy and its board members are unrelated to the principals of SUN4ENERGY, s.r.o. and UniCredit Bank Slovakia a.s.

Legal basis: § 3 ust.2 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 "Current and Periodical Information in the Alternative Trading System"

Osoby reprezentujące spółkę:
Michal Gärtner - Chairman of the Board of Directors
Georg Hotar - Vice-chairman of the Board of Directors