Another Success of Sky Solar: Greek 70MW PV Power Plant Grid-connection

BEIJING, March 21, 2013 /PRNewswire/ -- Sky Solar Holdings Co., Ltd. has announced the successful grid-connection of integral Greek 70MW PV power plants before March 12. Amy Zhang, CEO of Sky Solar immediately extended her congratulations and thanks to the Greek project team. In the complex economic investment environment in Greece, with many years of experience in construction, operation & maintenance including management, the Greek project team of Sky Solar made timely adjustments in technology, manpower allocation and project management to break through many challenges and ensure the successful grid-connection of the overall project. These projects involved several regions as well as many functions including development, approval process, design, investment and financing, construction and also grid-connection.

Greece has excellent solar resources with an average amount of solar irradiation 40% higher than that of Germany. As a part of the EU electricity grid, Greece not only transmits and sells the electricity to the European countries short of electricity, but also attracts EU countries and enterprises to invest in photovoltaic power generation in order to accomplish its goals of renewable energy sources. Having analyzed and studied the market, Sky Solar began to invest in the Greek PV renewable power business in 2007 and has since been very successful with this investment. Sky Solar's 70MW PV power plant is composed of 40MW and 30MW project packages, and the average sun irradiance of the project areas is over 1500 hours per year. The 40MW project was grid-connected on January 28, 2013, while the 30MW project was grid-connected on March 12, 2013. These two projects are entitled to a 20-year Greek PV FiT subsidy, and the electricity price is locked between 0.29 Euro/kWh - 0.44 Euro/kWh.

Following COSCO's large investment in the Beelia Container Terminal, Sky Solar is the largest Chinese investor in Greek renewable energy sector and is playing an instrumental part in laying the foundation for safe investments for other Chinese enterprises, while also assisting in the export of Chinese products.

Mr. Weili Su, Chairman of Sky Solar commented that "the investment in Greek PV power projects is of great significance for the promition of the development of renewable energy in the Greek economy as well as the achievement of EU's renewable energy target." "We can with the rich solar natural resources available, the competitive electricity price in Greece, and the importance of solar energy for governments to improve debt crisis and stimulate the national economic growth. The Greek renewable energy market still has great potential, and Sky Solar will continue to strengthen the investment and operation & maintenance in renewable energy power projects in Greece."

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