Upsolar connects a 1 WMp PV plant in Joint Venture

TREVISO – May 8, 2012 – Upsolar, a leading international provider of solar PV modules, today announced its latest 1 MWp project in Italy through joint venture Energia Verde Investimenti 3 (EVI3).

Covering 30,000 square meters of land owned by the Province of Bologna in San Lazzaro, the project was designed, procured and constructed by local EPC firm Protesa Spa. The installation consists of 230Wp polycrystalline Upsolar modules, which will produce enough electricity equivalent to sustain 267 households each year while saving more than 100 toe (tones of oil equivalent).

EVI3 acquired a 20 years of property ownership from the Province of Bologna, through a public tender. The municipality of San Lazzaro and the Province of Bologna will this way not only dedicate to a environmental-friendly target a land otherwise unused, but will earn an important income which will help the development of other local “green” projects.

This undertaking demonstrates Upsolar’s expansion from traditional sales channels and offers partners an opportunity to leverage the company’s technical, legal and financial support to realize unique projects.

“With its latest project, Upsolar continues to strengthen its presence in Italy following the creation of the local operations branch in 2010,” commented Giuseppe D’Elia, Upsolar’s Italy Country Manager. “Our local work in Bologna with Protesa Spa was completed quickly and efficiently, demonstrating the quality and professionalism of all the players involved.”

“This recent strategy to invest into mature projects secures a sensible prolongation of Upsolar´s value chain and brings very interesting tasks to be performed with respect to the origination and financing of PV projects. Our experience in project finance and our wide network to different banking institutions as well as investors will be able to deliver an additional value to Upsolar as a key player in the PV industry.”

About Upsolar

Upsolar is a leading international solar module developer and producer, offering the solar industry’s best quality / price ratio in the global PV market. With vertically integrated, diversified manufacturing platforms, as well as an R&D-supported quality control management system, Upsolar produces high quality, reliable solar modules backed by a world-class warranty, at competitive prices. Headquartered in Shanghai, Upsolar has offices throughout Asia, Europe and North America to support an international customer-base, providing on-site technical support, customer service and product development teams. For more information, visit www.upsolar.com.

About Protesa Spa

Protesa Spa is a company part of the Sacmi group. It is specialized in design and commercialization of organizational and technological services, supported by skilled and motivated professionals who can offer their support to the whole manufacturing process. The company’s strong growth demonstrates the satisfaction of the market and the customers, both within and outside the Sacmi group. For more information, visit www.protesa.net.

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