15.2.2008: Meldung: GiraSolar, Inc.: New USD 10.3 Million Supply Contract

GiraSolar, Inc. Announces New USD 10.3 Million Supply Contract
Wednesday February 13, 10:00 am ET

DEVENTER, The Netherlands----GiraSolar, Inc., an internationally operating, broad based solar energy company with a network of subsidiaries and affiliated entities in the field of solar energy product development, production, application and sales on four continents, today announces that it has made the first of several deliveries on a USD 10.3 million supply contract to a solar project developer in Spain.

James Miller, CEO of GiraSolar, Inc., stated: “We believe that the entry into and execution of new supply contracts proves that the GiraSolar group is able to maintain a strong position and establish a national presence in Spain through its sales support branch that was established last year, intensive networking and strategic partners in the market, despite increased and intense competition on the Spanish market since the Company’s entry in 2006.”

Prepayments have been received in full and the first significant deliveries to Alternativa Energetica, a solar (PV) project developer in Spain, have been made. Project installation is expected to progress favorably during the coming months with follow-up deliveries planned until the end of H1/08.

Wieland Koornstra, Chairman of GiraSolar, Inc. and CEO of GiraSolar BV, added: “This particular contract to supply system components is being announced now after we have completed our first deliveries according to schedule. We are proud to have completed this delivery on time especially since silicon, wafer, cell and module supply remain stressed, primarily due to increased pressure from the Spanish market because of deadlines to finish projects. While the silicon supply crisis – relative to industry demand – continues, we intend to maintain our policy of announcing contracts upon the successful start of execution, instead of upon signing contracts.”

This is our first Press Release on new or recent business achievements that occurred during 2008. We have posted a President’s Letter to Shareholders on our website (www.girasolar.com) to update shareholders on 2007 and other previous events.

About GiraSolar Inc.

GiraSolar Inc. is a US holding company with its operational headquarters located in Deventer, the Netherlands, through GiraSolar BV. It is an umbrella organization for subsidiaries, partners and affiliated entities, active in the field of solar energy product development, production and application. GiraSolar"s three subsidiaries consist of 100% owned DutchSolar B.V., 51% owned GiraSolar Turkey Ltd. Ste. (GST), and 100% owned GiraMundo B.V. The group focuses with its business activities on silicon, solar cells, solar modules and solar energy systems. www.girasolar.com


GiraSolar, Inc.
Wieland Koornstra, ++31 570 613 329
Fax: ++31 570 618 951

Source: GiraSolar
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