March 17, 2006 - Lawrenceville, NJ, USA:

Energy Photovoltaics, Inc. (EPV), a solar energy manufacturer in New Jersey, has joined in the creation of a new joint venture company, Solar Plus, SA, of Lisbon, Portugal. The joint venture, which has a value in excess of $20 Million (€ 17 Million), has executed a contract with EPV that starts the first phase of development--the construction of a 5.5 megawatt (MW) per year thin-film photovoltaic module (PV) manufacturing facility near Aveiro on the central coast of Portugal. This will more than triple current PV production capacity in Portugal, with operations starting in early 2007.

Solar Plus is a joint venture solar energy company that will be the first to produce thin-film photovoltaic products in Portugal. Demand for PV modules, which has been growing worldwide at more than 30% per year for the last decade, has dramatically increased in Portugal and in the European Union in response to global warming concerns and aggressive government incentives to stimulate solar energy usage. Portugal has one of the highest average levels of solar radiation (solar resource) in Europe and is an ideal location for a photovoltaic business.

Energy Photovoltaics, Inc., a solar energy technology developer and manufacturer of photovoltaic modules, will supply its Integrated Manufacturing System (IMS). This proprietary system incorporates EPV's specially designed production machinery with the company's commercially-proven manufacturing technology for the production of high-quality, low-cost, amorphous silicon PV modules. The manufacturing plant will be in Oliverira do Bairro, located in the district of Aveiro.

Mr. James F. Groelinger, EPV's Chief Executive Officer, was present for the signing of the joint venture agreement in Lisbon. “Portugal has the potential to be the next significant solar market in Europe. The business that Solar Plus is commencing is aimed at helping Portugal achieve its renewable energy goals in an environmentally responsible and cost-effective manner. This deployment of EPV's IMS reflects a recognition that solar electricity eventually will have to compete with other electricity sources in an unsubsidized market. EPV is the company that can supply the technology that will allow commercial success in such a future market.”

Solar Plus will be a vertically integrated photovoltaics company that will manufacture, design, market, and install photovoltaic modules, products, and systems for a wide range of applications, including residential, power stations, parking lots, telecommunications, and outdoor lighting. In addition to supplying and installing the proprietary manufacturing equipment and technology, EPV will also provide the installation, training, startup supervision, and ongoing operational oversight to ensure continuous production of high-quality, well-performing, photovoltaic products. EPV's joint venture partners in Solar Plus are Telcabo, SA; Eurico Ferreira, SA; TVE-Engenharia Vale do Tejo, SA; and NetPlan Telecomunicacõse Energia, Lda.

Mr. Rui Silva, Chairman of Solar Plus, noted that the company will be the first in Portugal to manufacture amorphous silicon (a-Si) photovoltaic modules. “Solar Plus is not only excited about this new partnership and the technology, but intends to be the leader in Portugal when it comes to affordable solar energy for the citizens and businesses of Portugal."

Known as “thin-film” photovoltaics, the technology is regarded for its low raw materials requirements and for not utilizing crystalline wafers, a material experiencing a severe world-wide shortage. Compared to its traditional crystalline photovoltaic counterparts, EPV's a-Si products offer critical performance advantages--including greater electricity production per watt, a uniform appearance, and shorter energy-payback time. Of increasing importance in the architectural market, a-Si thin-film products are readily integrated into attractive and energy-efficient building designs; such applications of PV is known as Building Integrated Photovoltaics (BIPV).

BIPV products are some of the most sought-after photovoltaic applications by designers, architects, and builders of “green buildings” internationally. The Solar Plus facility will have the ability to accommodate significant expansion of its manufacturing capacity and to incorporate specialized production for BIPV products. Solar Plus intends to begin construction by late April of this year, with the IMS becoming commercially operational by the first quarter of 2007. More than 100 new jobs are expected to be created by the manufacturing plant.

In August 2004, EPV completed an a-Si IMS in Tianjin, China, for the Tianjin Jinneng Solar Cell Corp. Once equipment was delivered, the plant was completed in world-record time for a complete solar manufacturing facility--less than one year. The Tianjin facility is currently in full production. EPV has delivered manufacturing systems to Hungary, China, and the U.S. A joint venture project is currently in development in Greece, and EPV is experiencing strong interest from potential partners in many other regions, including Germany, Southern and Eastern Europe, Asia, Africa, and the U.S.