Cencorp - Company Announcement

ETELÄ-SAVON ENERGIA AND CENCORP HAVE SIGNED AN AGREEMENT ON DELIVERY OF A SOLAR POWER PLANT AND ON COOPERATION WITH OBJECTIVE TO DEVELOP SOLAR ENERGY MARKETS IN THE REGION OF SOUTH SAVO

CENCORP CORPORATION          STOCK EXCHANGE RELEASE       15 MAY 2014 at 13.55
FINNISH TIME 





ETELÄ-SAVON ENERGIA AND CENCORP HAVE SIGNED AN AGREEMENT ON DELIVERY OF A SOLAR
POWER PLANT AND ON COOPERATION WITH OBJECTIVE TO DEVELOP SOLAR ENERGY MARKETS
IN THE REGION OF SOUTH SAVO 





Etelä-Savon Energia Oy (”ESE”) and Cencorp Corporation have signed a
cooperation agreement with objective to develop together solar energy markets
in the region of South Savo. In the first phase a pilot plant will be built in
Karikko, Mikkeli. 



A pilot solar power plant, built as a pilot project, is an investment that
opens the solar energy markets in the region of South Savo.  The solar power
plant includes 200 solar modules with capacity of max. 49.5 kW. The power plant
generates annually about 40.000 kWh which is enough to heat 15 apartments, in
average, for a year. The solar power plant of this size is the only one in the
region of South Savo. 



Cencorp will deliver the solar power plant as a turnkey project. The customer
is ESE who is responsible for connecting the power plant to the grid. Based on
experience got from this pilot project a model for wider cooperation can be
developed. 



”An investment in solar energy is part of ESE's strategy. The investment
supports procurement and production of the green energy and is part of our new
energy services. Since ESE withdrew from Fennovoima's nuclear power plant
project ESE is focusing more and more on renewable and local forms of energy”,
says Erkki Karppanen, Managing Director of Etelä-Savon Energia Oy. 



”The pilot solar power plant, to be delivered to ESE, is based on Cencorp's own
Finnish solar module technology. The solar modules will be produced with
Cerncorp's own production technology in Mikkeli. Even though the first phase of
the delivery of the pilot solar power plant is not financially significant, it
is a start for a long-term cooperation with ESE. The cooperation is aiming to
develop solar energy markets in the region of South Savo. Cencorp will be part
of developing business models for solar energy sales and delivery in Finland.
Further, Cencorp will use the plant for testing its new innovations in practice
in Northern European conditions. The project is an important reference delivery
for Cencorp for the future both in domestic and international markets” says
Iikka Savisalo, Managing Director of Cencorp. 



Etelä-Savon Energia Oy is an energy company, 100 percent owned by the City of
Mikkeli, who is a forerunner of providing environmentally friendly Ekoteko
energy products. In 2013 the company's net sales was about EUR 53 million and
the number of personnel in Finland was ca. 100. 





In Mikkeli, 15 May 2014





CENCORP CORPORATION





For more information:

Iikka Savisalo

President and CEO

Cencorp Oyj

Tel. +358 40 521 6082,

Email: iikka.savisalo@cencorp.com







Distribution:

NASDAQ OMX, Helsinki

Main media

www.cencorp.com





Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment in the product portfolio include, automated applications of
odd-form assembly and  depaneling for the electronic boards, testing equipment
and advanced materials processing by laser. All Cencorp's offering improves the
efficiency of the customers' production. Cencorp has clean technology,
especially photovoltaic (PV) solutions as its other business segment. Cencorp
now offers its automated manufacturing technology of the PV modules,
manufactures and sells photovoltaic modules, based on Cencorp´s own technology
as well as key components of photovoltaic modules. The product range also
includes EMI shielding solutions, RFID antennas, other flexible circuits
including for example conductive back sheets used in photovoltaic modules and
mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland.
The company is part of the Finnish Savcor Group.