Good Energies to Increase Ownership in Solarfun

Energy investment company Good Energies will soon raise its ownership in Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF) from 6.3% to 34.7%.


Through a deal announced today, Good Energies will purchase 66,745,638 ordinary shares of the photovoltaic manufacturer and 281,011 American Depository Shares (ADS) from current shareholders, including 50% of the shares held by the Company’s Chairman and CEO, Yonghua Lu.


Yonghua Lu will retain a 16.1% stake in Solarfun.


The investment expands the relationship between Solarfun and Good Energies that began when Good Energies first invested in the Company in 2006. Upon completion, the investment will.


In connection with the investment, the Company’s Board of Directors will appoint an additional representative of Good Energies as well as a new independent Director to the Board. Dr. Sven Hansen, the Chief Investment Officer of Good Energies, will continue to serve on the Solarfun Board of Directors, a position he has held since August of 2006.


“We view Solarfun as one of the best manufacturing platforms for PV products in Asia and we believe there are tremendous opportunities for growth,” said Richard Kauffman, Chief Executive Officer of Good Energies. “We are pleased that Mr. Yonghua Lu and the largest shareholders of Solarfun have selected Good Energies to work with management to help the Company strive to reach a new level of international growth and success. The investment reflects our confidence in the long-term prospects of Solarfun and is a testament to management’s achievement in turning the Company into one of the leading global manufacturers of photovoltaic cells and modules.”


About Solarfun


Solarfun Power Holdings Co, Ltd. manufactures ingots and PV cells and modules and supplies solar system integration services in China. The Company produces both monocrystalline and multicrystalline silicon cells and modules, and manufactures 100% of its modules with in-house produced PV cells. Solarfun sells its products both through third-party distributors and directly to system integrators. The Company was founded in 2004 and its products have been certified to TUV and UL safety and quality standards.


About Good Energies


Good Energies is a leading global investor in the renewable energy and energy efficiency industry focusing on investments in solar energy, wind energy, green buildings and load management. Good Energies is a member of COFRA Group, a privately owned group of companies. Good Energies is looking for meaningful investments with outstanding growth potential. Good Energies is guided by the 3-P-principle (3-Ps): people-planet-profit. Being an investment firm it seeks to help drive the transition to a low carbon, clean energy economy globally, including bringing affordable renewable energy to the developing world. Good Energies operates globally with offices in London, New York, Toronto, Washington, and Zug. The current market capitalization of its portfolio is over four billion Euros (six billion US dollars). www.goodenergies.com

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