S.A.G. Solarstrom AG / Statement 25.02.2010 11:18 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- S.A.G. Solarstrom AG criticizes coalition's compromise on EEG Act Freiburg, February 25, 2010. S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008), is severely criticizing the compromise made by the Federal Government regarding the EEG Act. The additional reductions in the feed-in tariff planned for July 1 will have definite negative consequences for the solar industry in Germany and will jeopardize innovation leadership and workplaces. This criticism underscores the position the Freiburg solar company took in a discussion between CEO Dr. Karl Kuhlmann and the Baden-Württemberg Environment Minister Gönner, on February 5, and which they made clear by signing the Freiburg Declaration on February 22. S.A.G. Solarstrom AG themselves are hardly affected by the planned change, due to their international orientation. At the beginning of the week S.A.G. Solarstrom AG intensified their appeal to the Federal Government to reconsider the planned reform by signing the Freiburg declaration. Local energy providers such as Badenova and Ãkostrom Erzeugung Freiburg are supporting the declaration, as are the Fraunhofer Institute, the solar companies S.A.G. Solarstrom AG, Solar-Fabrik AG and Solarmarkt AG who are based in Freiburg, as well as the city of Freiburg and the Chamber of Trade. As the headquarters of several leading international research institutions and companies in the solar industry, Freiburg is particularly affected by the planned reforms. 'Even though the S.A.G. Solarstrom AG group of companies can absorb the reductions in other markets, thanks to our international orientation, and though we are not affected directly or to the same extent as many other companies, we still view this decision as a threat to the innvoation leadership achieved in the solar industry in Germany. In addition, workplaces, especially in small and medium-sized craft businesses, are at stake', says Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG. S.A.G. Solarstrom AG is criticizing, in particular, the lack of planning reliability for all market participants - only about four months remain until the reform comes into effect on July 1 - as well as the amount of the additional reduction. Companies thus barely have time to adjust to the changes in the market conditions. The CEO of S.A.G. Solarstrom AG therefore anticipates, in the long-term, a wave of consolidation of medium-sized solar companies in Germany and the loss of workplaces. 'We consider it an achievement that our discussions have helped to continue support for both ground-mounted systems large industrial roof-top systems. On the other hand, what is detrimental is the regulation that the own consumption bonus has been increased to 8 cents, but only applies for systems under 800kWp and will be subject to scrutiny again at the end of 2011. The own consumption bonus is strengthening local energy supply structures, which is why a long-term, reliable solution should be found for investors with regard to this issue', continues Kuhlmann. 'We are convinced that photovoltaics are foreseeably cost-effective and will not require any subsidies in the long-term. However, the EEG Act has supported the spread of this sustainable technology, boosted research and development and ultimately, through the development of the market, contributed to the fact that system prices could be lowered. It is therefore very regrettable that the Federal Government is now making such a reduction in these subsidies and is thus postponing considerably the point in time at which photovoltaics will be able to compete with conventional energy sources, even from an economic point of view', concludes Dr. Karl Kuhlmann. About S.A.G. Solarstrom AG S.A.G. Solarstrom AG (German security identification number: 702 100, ISIN: DE0007021008) of Freiburg, Germany, are a manufacturer-independent provider of high-quality photovoltaic plants configured to customers' individual needs. The group constructs efficient plants of all sizes both in Germany and abroad. S.A.G. Solarstrom AG also produce solar energy at their own plants. S.A.G. Solarstrom AG's service portfolio covers the entire life cycle of photovoltaic plants, including energy- and weather-data management, yield reports, and remote maintenance, as well as insurance and financing. The group thus offers a comprehensive value chain in photovoltaics, from yield reports, planning, construction, operations, and monitoring to optimization, repowering, and deconstruction. Founded in 1998, S.A.G. Solarstrom AG are considered pioneers in the solar industry. Around 160 specialists work at the four locations in Germany and subsidiaries in Italy, Spain, Austria, and Switzerland. S.A.G. Solarstrom AG are listed on the open market, Entry Standard of the Frankfurt Stock Exchange as well as according to the rules and standards M:access of the Munich Stock Exchange. Further information: www.solarstromag.com Contact: S.A.G. Solarstrom AG Sasbacher StraÃe 5 79111 Freiburg Germany www.solarstromag.com Public Relations / Investor Relations Jutta Lorberg Tel.: +49-(0)761-4770-311 E-Mail: pr@solarstromag.com / ir@solarstromag.com 25.02.2010 11:18 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|] ---------------------------------------------------------------------------
DGAP-News: S.A.G. Solarstrom AG criticizes coalition's compromise on EEG Act
| Source: EQS Group AG