GPtech and CBI-Electric will offer their services in South Africa as well as in the sub-Saharan area ----- The business alliance guarantees a minimum of level 4 in BEE and comply with the policies demanded by the Government ----- The activities of the new company will start at the end of the second quarter of 2013

Madrid, 18th of February of 2013. GPtech, pioneer in the development of industrial applications based on next generation power electronics; and CBI-Electric, a technology company belonged to Reunert, leading South African company listed on the Johannesburg Stock Exchange (JSE), have signed an agreement with the object of manufacturing and selling locally GPtech's equipment to be supplied in future PV projects. The arrangement makes both companies fulfill with the policies demanded by the Government in the Integrated Resource Plan 2010 to offer their services to their customers and participate in the IPP-REBID program.

As a result, both companies aim to form a new corporation whose activities will cover, on the one hand, the manufacture, marketing and sale of the GPtech designs of both PV inverters and Power Integrated Stations; as well as the marketing and sale of Hybrid Generation Plants, complete solutions for power generation with the integration of two or more primary energy sources and energy storage systems. On the other hand, the business alliance will also guarantee an After Sale Service in the region to cover all the customer's needs. This assistance will be characterized by the fixing up of design or manufacturing defects during the period of warranty, periodical PV Inverters and PV Plants' maintenance programs, a spare parts service or any other necessity not included in the previous ones. These activities will start at the end of the second quarter of 2013 and they will be, at first, located in Boksburg (South Africa).

With the finalization of this agreement, GPtech and CBI-Electric seek to operate altogether in the South African PV Grid Integration Market and, additionally, they expect to market their products and services in most of the countries of the sub-Saharan area, such as Congo, Mozambique, Namibia, Zambia or Zimbabwe.

The alliance frames in the Integrated Resource Plan promoted by the South African Government in 2010 for the entry of New Independent Producers (IPP). The Government has imposed a series of legal requirements and technical specifications in accordance with the Economic Development Policy (EDP), which foreign companies have to fulfill to participate in the tender processes included in the IPP-REBID (Independent Power Producers Renewable Bid) program. This EDP addresses job creation and BBBEE requirements such as ownership, management control, preferential procurement and enterprise development, socio-economic development or local content. GPtech and CBI-Electric partnership, on finalization, will guarantee a minimum of level 4 in BEE, as well as the fulfillment of local content policies for the initial roll out of their activities so as to accomplish with the South African Government demands.

With the entry in the South African PV solar market, GPtech aims to repeat the success achieved in emergent markets as Latam, where it has become the leader supplier company with more than 100 MW of installed capacity; or US, with several projects in the West Coast and Puerto Rico, which has the most demanding requirements in the world for renewable energy projects. For 2013, it has an important pipeline and it expects to penetrate in new markets as India.

GPtech is a technologically-based company that provides integral solutions for the PV Grid Integration Market, Wind Energy, Transport and Energy. It implements electronical technology to control power electronical equipment and offers a wide range of innovative products completely developed with own resources and adapted to all the requirements demanded by each market. With more than 1,5 GW installed capacity in Power Conversion Technologies, and 500 MW of PV plants equipped with GPtech Inverters Solutions, it has become a global player present in several countries in Europe, America, Asia and Africa.

CBI Electric Group, which forms part of the Reunert JSE listed group, is a strategic focused but diverse player in the electrical components, systems and solution market. The diversity is not accidental but engineered to support an ever changing market sector and customer. From our modest beginnings, the CBI Group has grown into a Global recognised and respected manufacturing organisation. This feat was achieved by the philosophy of continuous investment into expertise, skills, resources and commitment to create specialised precision products for niche international markets.