Thursday, February 28, 2008

ET Solar Group Announces Agreement with OPDE

NANJING, China, Feb. 26 /Xinhua-PRNewswire/ -- ET Solar Group Corp.("ET Solar"), a Nanjing-based integrated manufacturer of photovoltaic products including ingot, wafer, module, and state-of-the-art dual-axistracking systems with manufacturing facilities located in Taizhou, China, announced today a framework collaborative agreement (the "Agreement") with Spain-based Meca Solar, one of the largest global state-of-the-artmanufacturers of solar tracker systems.

Under the Agreement, Meca Solar will (1) provide technical and technological support and assistance for ET Solar's tracker design and manufacturing, and provide installation training for ET Meca dual-axisprojects; and (2) become a minority share holder of ET Solar. Additionally,with guidance of Meca Solar, ET's engineering staff will become authorized and certified installation technicians

Commenting on the Agreement, Xinghua Wang, CEO and President of ET Solar said: "With our on-going sales over the past 12 months and a recent additional 10MW contract for 2008 with OPDE (Meca Solar's parent company), and now a strong strategic tracker manufacturing partnership with MecaSolar, I have every reason to believe that future opportunities between the two organizations are abundant.

"The strategic investment of a leading foreign system integration company into a fast growing Chinese solar company like this transaction is totally unprecedented. This is an important milestone for ET Solar, staying on the cutting edge of technology, as China becomes the world's largest producer of solar components and equipment.

"With successful projects dating back half a decade, Meca Solar is currently one of the global leaders of dual-axis tracker projects, achieving turnkey utility scale solar systems as a tracker manufacturer, integrator/installer, system financier and maintenance company.

"With such an experienced global partner, ET Solar will be catapulted into the burgeoning tracker market, offering trackers to our existing portfolio of products available to our global customer base. By focusing on downstream system integration products, ET Solar is keeping in step withour anticipated long term corporate growth strategy."

Commenting further, CEO of OPDE/Meca Solar, Alejandros Chave, added:"We are pleased to be expanding our existing business relationship with ET Solar. This is a very substantial strategic partnership and we look forward to supporting ET Solar with on-going technical and technological support. We have big plans in the near future and look forward to implementing them. I have no doubt that both parties will benefit from this partnership greatly."

About ET Solar:
ET Solar is an integrated solar component manufacturer. Headquartered in Nanjing, China, ET Solar has two manufacturing facilities in Taizhou, China. The Company's diversified products range from mono crystalline ingot, mono and multi crystalline silicon wafer, module, dual-axis tracker systems and BIVP products. ET Solar has been implementing sales through a combination of extensive direct sales and global distribution. Marketing and after-sales services throughout the United States, Germany, Italy and Spain ensure our products are readily accessible in world's major solar markets. With a genuine effort to supply our customers with tailor-made modules for specific customer requirements, ET Solar provides pro-active solutions for everyone's solar energy needs.

About Meca Solar:
Meca Solar is a Spanish company that is dedicated to the design, manufacture and distribution of state-of-the-art dual-axis tracking systems, building turnkey utility scale solar systems with increased energy production of up to 43% (relative to fixed installation).

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