Prime Solar Gains Grants for 100 MW Wafer Manufacturing Facility at Thalheim

South Perth, Western Australia [] Prime Solar Pty Ltd. received a Letter of Intent from the State Government of Saxony-Anhalt confirming the eligibility of the project and the availability of grants for its wafers manufacturing facility to be set up at Thalheim, Germany. “Phase I of the project will be of 100 MW per year capacity and the commencement of production is expected by the end of 2007. A total production capacity up to 680 MW per year will be completed within seven years with a total investment of approximately Euro 425 million”, said Dr. Dilawar Singh, Managing Director and CEO of Prime Solar. A European Bank has confirmed interest to provide debt, bridging and working capital funding of approximately Euro 36 million.

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