Supplies panels to rapidly expanding Central and South American market for first time

Munich, October 15, 2012 – Solar Frontier and Iberdrola Ingenieria & Construcci�n Mexico S.A. de C.V. announced today that Solar Frontier has completed delivery of 1.5 megawatt peak (MWp) of its CIS thin-film modules to a 5MW Iberdrola plant in Cerro Prieto, Mexico. The Cerro Prieto project is owned by CFE, the state-owned electric utility company of Mexico, and will be the largest PV installation in the country when it goes into production by the end of 2012. This project is the first for Solar Frontier in the rapidly growing Central and South American market.

Iberdrola is combining Solar Frontier technology with competing technology in this project. The hot climate and mounting on mono-axial trackers will be an opportunity to show the advantages of Solar Frontier's lower temperature coefficient, which are valued for better performance in hotter conditions compared to crystalline silicon.

Iberdrola Ingenieria & Construcci�n Mexico S.A. de C.V. belongs to the Spanish group Iberdrola, one of the largest energy suppliers worldwide, with extensive experience in renewable energy. Its goal by 2020 is to produce 20% less CO2 per kWh than the overall European electricity sector.

"This is a significant opportunity for Solar Frontier to strengthen its position in the regions served by Iberdrola to Iberdrola's high standards," said Wolfgang Lange, Managing Director, Solar Frontier Europe. "We are demonstrating to our most discriminating customers that CIS technology delivers more kWh over the lifetime of a project for a lower cost."

About Solar Frontier

Solar Frontier K.K., a 100% subsidiary of Showa Shell Sekiyu K.K. (TYO:5002) ("Solar Frontier"), has a mission to create the most economical, ecological solar energy solutions on Earth. Building on a legacy of work in solar energy since the 1970s, Solar Frontier today develops and manufactures CIS (denoting copper, indium, selenium) thin-film solar modules for customers in all sectors around the world. Solar Frontier's gigawatt-scale production facilities in Miyazaki, Japan, integrate compelling economical and ecological advantages into every module: from lower energy requirements in manufacturing to the higher overall output (kWh) of CIS in real operating conditions. Solar Frontier is headquartered in Tokyo, with offices in Europe, the U.S.A., and the Middle East. Visit www.solar-frontier.com for more information.