Saturday, June 23, 2012

AEG Power Solutions Invests In Solar Equipment Manufacturing In Its 3W Power South-African Subsidiary

The group builds a 200 MW capacity leading edge facility in Cape Town to back up this local development and provide premium solar inverters and monitoring equipment to the African market

AEG Power Solutions, the energy technology and power electronics specialist, has made a significant investment in South Africa with the construction of a premium manufacturing facility for its utility-scale solar inverters and skytron combiner boxes for its world class monitoring and control solutions. The factory, based in Montague Park in Milnerton, just outside of Cape Town, is 3,400 sqm, with the capacity to produce at least 200 MW per annum. The South African company has been registered and is operating under the same name as the group's holding: 3W Power and is selling under the AEG brand.

It is estimated that there are around 1.5 billion people around the world who do not have access to electricity. Of these, approximately one third live in Africa. Currently, around 90% of South Africa's electricity is generated from coal-fired power plants and fewer than 40% of South African households have access to mains electricity. Throughout the year, South Africa receives more than 2,500 hours of sunlight -- more than twice the insolation available in most parts of Europe. In 2010, the South African government approved plans calling for the development of 18 GW of renewable energy by 2030, of which 8,400 MW are allocated for solar. Leading from the fore, AEG Power Solutions has committed itself to helping South Africa achieve their ambitious renewable energy aspirations through the development of a state of the art solar inverter manufacturing facility in Cape Town.

The group opened its first South African office in 2010, expanding upon its truly global footprint with facilities already operational in China, India, Germany, France and Spain. The new South African facility has a similar footprint to the Indian plant, opened last year. It will bring the same range of first-rate products to the African solar market. Employees have been trained in Germany and are bringing premium technical skills back to Africa to increase the level of expertise available to their customers. The plant will be officially inaugurated in September 2012, but has already started manufacturing the PV.500 Inverters and 1MW TKS Solar Containers, with 13 employees and will ramp up to the PV.630 and PV.800 by the end of 2012. As a consequence of its investment, AEG Power Solutions will add substantial value to South Africa's business environment and generate further interest and international investment in the emerging African solar power segment. "The South African government has committed to installing 8,400 MW of solar power by 2030. The cost-effectiveness and sustainability of solar radiation as a power source have made it an attractive and viable energy alternative to fossil fuels in Africa. This factory will allow us to contribute to the commitment made by the South African state while proving our own commitment to the local economy," states Trevor de Vries, Managing Director of 3W Power/AEG Power Solutions, South Africa. " Solar power markets are set to boom around the world over the coming years with South Africa, and Africa in general, being seen as a future powerhouse for the worldwide solar industry. With our long heritage in providing high quality, robust and efficient power solutions delivering power to the grid, we are extremely well placed strategically to assist forward thinking governments in delivering on their promises," expands Mr. de Vries.

For decades AEG Power Solutions has been seen as a leader in the technological field of power interfaces to the electrical grid and has continually focused on enabling customers in many industries to optimize their power output and reduce their operating costs. They have served customers' needs for solar solutions for ever-larger, ever-more reliable on and off-grid generating facilities. AEG PS offers an extensive range of innovative, utility-grade solar inverters and backed up by a global network of service engineers and project services. Premium software-based solutions from the skytron subsidiary which monitor and control utility scale photovoltaic power plants, offer an unbeatable opportunity for delivering the most power from the sun to the grid.

Over the past few years, AEG Power Solutions has equipped and commissioned more than 860 utility-scale solar installations around the world. "With the new South African facility, AEG Power Solutions will be able to deliver maximum efficiency with their world class solutions specifically for local markets, customers and conditions. The ongoing success of the factory in India proves the business case and AEG Power Solutions is looking forward to achieving a similar kind of growth in Africa", explains Horst Kayser, CEO of 3W Power and AEG Power Solutions group.

About 3W Power/AEG Power Solutions:

3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol:3W9) and the warrants are traded on NYSE Euronext, Amsterdam (ticker symbol:3WPW).

AEG Power Solutions Group is a global provider of power electronic systems and solutions for all industrial power supplies and offers one of the most comprehensive product and service portfolios in the area of power conversion and power controlling. The two complementary operating business units Renewable Energy Solutions (RES) and Energy Efficiency Solutions (EES) are serving customers worldwide. The RES product and service portfolio consists of systems and solutions for solar power plants like solar inverter, monitoring and control systems as well as power controller. The EES product and service portfolio includes high performance uninterruptable power supplies (USPs), industrial power controller and DC-converter. Thanks to its distinctive expertise, bridging both AC and DC power technologies and spanning the worlds of both conventional and renewable energy, the company creates innovative solutions for smart grids.

AEG PS' footprint is global including 17 subsidiaries and competence centers around the world, employing 1,700 employees. 3W Power is also the name under which the group operates in South Africa and in Ukraine.

For more information go to:

This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.

3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.


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