Solar

Thai PV to Donate 5% of Future Module Production

Thai Photovoltaics Ltd. (TPV) investors have taken a bold step in their ambitious plan to bring solar electric power to those who need it most. One of TPV’s four primary goals is to help improve the quality of life and the environment in developing nations.

BANGKOK, Thailand – May 21, 2002 [SolarAccess.com] As an integral part of the company’s business plan, its investors have agreed that TPV will donate five percent of the solar electric modules it produces to qualified charities toward this goal. At full production this will be over 800 kW per year, enough to electrify about 30 rural schools per month. An additional five percent of TPV’s production will be set-aside for qualified NGO’s on a “cost plus” basis to supplement TPV’s substantial planned charity contributions. The company’s investors, advisors and employees are pleased to be in a position to take such a strong action, and hope it serves as an effective example of corporate social responsibility. The company plans to begin initial commercial production in the first half of 2003, with a target of producing 20 MW per year of electricity-producing solar modules by the end of 2005. TPV recently opened Phase II of its direct private equity placement in which the company intends to sell an additional 30 percent of its equity for US$5,064,000.