POWERWAY Investing in South Africa

500 MW Annual Capacity Mounting Structure for Utility Scale Solar Farm

July 22, 2012 Powerway, the biggest mounting structure producer for utility scale solar farm and the largest independent (non-module producer) solar farm builder in China,proudly announced today its plan to invest Ran10M$(partly self-financing, partly bank financing)for production facilities in South Africa for Powerfit, PowerScrew, andPowerTracker, which are neccessary as mounting structures for utility scale PV power plants. Working in conjunction with the South African government's BBBEE program,Powerway will set up 6 production bases in towns like Kimberley, De Aar, Upington etc… with co-ownership of the local citizens, this investmentwill create over 2000 jobs for the local population.

Powerway will at the same time set up galvanizing facilities for all the steel structures of solar farms, as well as a training center for the local workforce in Kimberley.Powerwayplans to invest in training centers to train local managers and workforce to produce state-of-the-art mounting structuresthat is necessary for utility scale solar farms.

"During my first time visiting South Africa, I was amazed by its beautiful landscape, breath taking scenes of the long beaches, and most importantly, the powerful and wonderful sunshine which gives the country plenty of green energy", says Mr. Benson Wu, CEO of Powerway Renewable Energy Co. Ltd. "the Northern Cape Province will be concentration of PV solar farms in its widesemi-desert spread areas as the result of the first round release of PV power plant tender, the vast vacant land and long lasting daily sunshine with strong irradiation which cast the best sources of green solar energy for this beautiful country. Powerway is pleased and very proud to be given the opportunity to participate in the new solar boom of this wonderful emerging market, and is ready to invest intechnology transfer to contribute to the local economy, especially to boost and bloom the Africancommunity. This investment program is estimated to be completedin six months, thenwe will be able to accommodate over 4000 employment opportunities for the local people and to supply mounting structures for over 500MW of solar farms per year.And for this 500MW solar farm mounting structure, we will need over 30,000 tons of steel, and over 500 tons of extruded aluminum materialon an annual basis."

"I am extremely pleased and excited to see that our 2 years of hard work will soon become a reality", says Sherry Shi, Chief Marketing Officer, "We have set up our own technical team ready to support this endeavor in South Africa. And I am happy that we have been awarded 50-75 MW jobs already for mounting structure supply for the newly announced PV projects in South Africa."

"We are one of the best tracker producers in China, our patentedPowerTracker is most suitable to areaslike South Africa where there are long daily sunshine hours, the single axis tracker that Powerwayrecently developed can help power plant investors to increase the power output by 20-25%", says Mr. Chen Zhi Wen, Chief Operation Officer, "and our PowerScrew is ideal to semi-desert areassuch as in Northern Cape Province, because it is the most time effective as long as installation is concerned, and it is the most economic type of foundation due to its low cost of production. It avoids the long drying time of concrete foundation, while allows the green plant to be preserved and keep the soil intact. "

Website: www.pvpowerway.com

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