Parted with Conergy AG, will continue to promote the world PV market. Providing one-stop total service based on global technology and network

Seoul, 19 January 2010 - Conergy Korea announced today the change of its company name to OSolar and its separation from Conergy of Germany. Henceforth, OSolar, a professional photovoltaic (PV) engineering company, will serve the world PV market.

OSolar will provide one-stop total solutions for PV projects from consulting, licensing, and design to construction and O&M (operation and maintenance) services with its global technology and network.

The company, which led the development of the Korean PV industry under its former name of Conergy Korea, has successfully implemented a variety of projects, including construction of the largest PV power plant (24MWp) in Asia, as well as a megawatt (MW) class PV power plant in the shortest period of time in the world (as of 2006) using its world-class technological expertise.

Jihun Kim, CEO of OSolar, said "As our highly proficient and dedicated teamwork has been recognized through a number of successful worldwide projects, we have a great expectation that OSolar will take the lead in the world PV industry."

He also added that the company plans to establish subsidiaries in USA, China, and Japan within the first half of the year to link its service network for expedited services with competitive and economical pricing to the wider customer base. The company has been developing its capabilities from companies in Korea, USA, Japan, and China by completing remarkable PV projects.

In addition, the company unveiled its dynamic English website (www.osolar.com), emphasizing its service story animation and products in 3D rendering for customers' ease of understanding. The Korean, Japanese, and Chinese versions will be opened to the public in March.

About OSolar

OSolar is a professional photovoltaic engineering company that provides one-stop total solutions for photovoltaic projects from consulting, licensing, and design to construction and O&M services.

OSolar has drawn remarkable attention from Korean industry for having successfully completed the fastest installed MW PV power plant in MuAn in 2006 and the world's largest parking-lot PV power plant in HamPyeong County with an output of 2MWp in May 2007. The following year, OSolar installed the Asia's largest PV power plant (24MWp) in ShinAn, southwest of the Korean capital of Seoul, cooperating with DongYang E&C.

In addition, OSolar has recently promoted the PV business providing single-axis tracking systems in the USA and China and developing a tilted single-axis tracking system on rooftop in Japan which is the very first PV project conducted by a foreign company.