Solar Leader confirms commitment to Australia

Solar Leader confirms commitment to Australia, asks Australian Government for commitment to solar

National - Conergy, a global leader in the manufacture and distribution of renewable systems, confirmed its commitment to the solar industry with last week's announcement of a 400M (AUD780M) fully underwritten capital issue of shares, out of Hamburg and confirmation of extremely strong growth of global sales revenue to the end of Q3 of its financial year.

The announcement confirms Conergy as a major player in the global solar market, particularly in
Australia and reaffirms its position as a strong company that has been able to raise capital even in a difficult economic climate.

"Conergy is absolutely committed to growing the
renewable energy industry in Australia," Rodger
Meads, Conergy's Managing Director said.
"This long term commitment does however need the long term commitment of the Australian
Government to assist to grow our industry, just as they are assisting the coal and other critical
industries such as car industry. They may be in financial difficulties but our industry is still growing" Mr Meads said

"In light of BP Solar's recent restructuring announcement, Conergy is concerned the market may perceive there to be a decline of services offered in Australia and a perception that due to their financial imperatives to shift manufacturing offshore may overshadow the future growth possibilities which we still believe are massive within the Australian sector," Mr Meads explained.

"Despite industry uncertainty since the means test introduction in May we have had sales growth of 85% in the current calendar year, opened new offices in Queensland and Victoria and have plans to expand manufacturing in WA.

Our commitment is strong but we need the commitment of Government to make it stronger.
"We believe government policy has a major role to play in helping emerging industries and Conergy is working together with State and Federal Governments to develop solutions to further grow Australia's renewable energy industry," Mr Meads said.

"There is still no sign of the Federal Government's promised expanded MRET being legislated, the ETS design is not finalised and the election commitment of a national feed-in tariff has not even made it to the discussion table.

"The Government needs to commit to their green credentials as promised 12 months ago to ensure Australia retains a viable renewable energy industry to support the immediate realisation of real climate change infrastructure in Australia. In addition, a viable renewable industry will provide longer term economic benefits to the Nation as an exporter in this growing market.

"Conergy is in Australia to stay and our local manufacturing facilities in WA, our engineering staff and offices in each capital city prove our commitment to the industry and Australia- all we ask is to see the same level of commitment from the Government towards our industry," Mr Meads said.

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