At a site on the BAHIADADIZ industrial estate in the district of EL PUERTO DE SANTA MARIA in the Andalusian province of CADIZ, the Spanish company 'Genesis Solar España S.L.' is setting up an industrial project for the manufacture of the latest generation of hi-tech solar panels using THIN FILM TECHNOLOGY. By the end of 2009 it is expected that the production capacity of thin-film solar cells at the plant in Andalusia will rise to 100Mwp per year, generating sales of around €150,000,000 per annum, thereby putting it in the top bracket of European suppliers.

According to the BUSINESS PLAN submitted to the Spanish authorities in early 2007, the investment volume for this project amounts to around €150,000,000. This figure includes the purchase of a 23,000m² industrial site where the factory is to be erected. Planning work has already commenced and is being overseen by the German company IN-TECS based in Stuttgart. Applications for grants submitted to the Andalusian provincial government and to the Spanish Ministry of Industry and Commerce have been approved at generous levels.

According to the DECISIONS emanating from SEVILLE and MADRID, the company is eligible for grants to the sum of around €20,000,000. The 108 technicians and specialists required to run the project will largely be recruited from the local labour market and will receive support from the Andalusian provincial government (Cadiz region) in the form of training grants, a cause for rejoicing not only in the Spanish PRESS!

On the 10. July 2008 the building permit was given. At the moment the geotechnical work are accomplished. The remark of the project is intended in the middle of October.

At the moment, preliminary discussions are taking place with potential international investors who can get involved in the project either via the Hungarian parent company GENESIS ENERGY INVESTMENT,PLC and the German STOCK EXCHANGE IN FRANKFURT, or directly via a minority shareholding in the Spanish company Genesis Solar España S.L. The Spanish company's affairs are being looked after by the law firm (Abogados) of ARNO W.MEUSER. They will be pleased to answer any questions that you may have.