General Agreement concluded for the development of one of the world's largest biogas projects

-EPURON and BioEnergie Park Soesetal engage in a strategic joint venture
-Investment volume amounts to over 50 million euros

Hamburg, March 2, 2007: EPURON, a subsidiary of Conergy AG, has finalised a general agreement covering the joint development of biogas installations with the project development company BioEnergie Park Soesetal of Lower Saxony. The agreement includes installations with a total output of up to 18 megawatts in the region of Osterode am Harz in Germany. After implementation, the biogas project will be one of largest of its kind in the world. It is planned to be fully erected by 2009. The investment volume exceeds 50 million euros. The General Agreement allows for multiple installations to be implemented at each location. By doing this, delivery contracts and installation operations can be combined allowing for better optimisation of investment costs.

The strategic joint venture combines the expertise of each company involved: EPURON will assume the responsibility for project planning as well as the structured financing of the project. The regional project developer will be responsible for local project development which includes, among other things, land collateralisation and delivery agreements with substrate suppliers.
According to Joerg Woiwode, Managing Director of BioEnergie Park Soesetal GmbH, the decisive factor in the collaboration with EPURON is the company's long standing expertise in the field of structured financing. "The project financing is a key success factor when it comes to implementing biogas projects. Particularly large-scale projects like ours, it is crucial to have intelligent financing concepts together with an appropriate technical background. EPURON has all the necessary know-how, says Joerg Woiwode.

"There is a strong demand for bioenergy projects with our investors. To cater to their increasing interest, we are continuously expanding our project portfolio in this segment. Well developed projects are very important for us because it ensures attractive returns for our investors. The projects which we will implement in conjunction with BioEnergie Park Soesetal satisfy this condition, says Nikolaus Krane, Member of the Management Board of EPURON.

EPURON has been developing and financing large scale projects in the bioenergy sector since 2005. The company is currently implementing a 1.79 megawatt biogas installation in Jueterbog in the region of Brandenburg, expected to be one of the largest installations in terms of power output. More than 20 projects are currently under development in Germany and abroad.


Press contact: Clemens Thoma
T. +49 / 40 / 271 42 - 3200
F. +49 / 40 / 237 42 - 3300
presse (at) epuron.de

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