PowerLight Corporation Completes First Phase of One MW Solar Project for S&P Co., Ltd. in Gwangju, Korea

Business Wire, Nov 21, 2006

Leading Global Provider of Solar Power Systems Opens Asia Headquarters in Seoul, Korea

GWANGJU, Korea -- PowerLight Corporation, the leading global provider of solar power systems, announced today the completion of the first phase (800 kW) of a 1 megawatt (MW) solar power project in Gwangju, Korea, located 200 miles south of Seoul. The solar power system, owned and operated by Korea's Solar & Park Co., Ltd. (S&P), is being unveiled this week in conjunction with the Solar, Wind, & Earth Energy Trade Fair (SWEET) in Gwangju. The solar photovoltaic array, the largest elevated solar parking system in the world, was designed, developed and deployed by PowerLight Corporation; it uses PowerLight PowerTracker([R]), the most widely deployed single-axis solar tracking system in the world.

Mounted over a parking facility at the Kimdaejung Convention Center, the PowerTracker([R])solar power system automatically follows the path of the sun throughout the day to maximize the solar panels' energy output, providing substantially more power than a fixed tilt system. The energy produced by the system will be sold to Korea Electric Power Corporation (KEPCO) at a fixed price set by Korea's Ministry of Commerce, Industry and Energy for 15 years following the project commissioning. The photovoltaic cells being used in the system were manufactured by Schott Solar.

"PowerLight is an experienced, proven solar provider that is helping the most discriminating energy customers in the world achieve outstanding electricity generation results that exceed performance expectations," said Solar & Park Corporation's Young Hwan Jeon.

"We're very pleased to be showcasing PowerLight's industry leading solar technology and products here in Gwangju," said Mayor Gwang Tae Park, "and are extremely proud that PowerLight has selected Korea as the headquarters for its operations in Asia."

"PowerLight is honored to have designed and developed the largest solar system in Gwangju, one of two designated Solar Cities in Korea. We are looking forward to participating in the SWEET Fair and celebrating this historic achievement," said PowerLight president Dan Shugar. "This monumental solar project could not have been accomplished without the strong commitment of Mr. Young Hwan Jeon of Solar & Park, the extraordinary support of Mayor Park of Gwangju City, the City's devoted officers, the Kimdaejung Convention Center, and the commitment of the many other people who have worked extensively on this project."

"With the completion of this project, and opening of our new office in Seoul PowerLight is looking forward to taking an active role in Korea's growing solar market, while helping the nation achieve its renewable energy policy goals," said PowerLight chairman and CEO Tom Dinwoodie.

About PowerLight PowerTracker([R]) Solar Power Systems

The PowerTracker system features an innovative single-axis design that enables solar panels to automatically follow the path of the sun throughout the day to maximize energy capture. This system offers today's most advanced solution for maximizing both solar energy production and financial project returns on large-scale solar projects. Fully scalable, PowerTracker systems can scale from several-hundred kilowatt sites to large multi-megawatt installations.

PowerTracker features an innovative backtracking capability to avoid shading across panels, which can result in solar panel hot spots that degrade performance over time. As a result, the system produces higher electricity output that can increase energy capture by up to 30% over today's fixed tilt systems.

In addition, PowerTracker contains fewer moving parts than dual-axis tracking systems, thereby significantly reducing operating and maintenance costs. Combined with a considerably higher ground-coverage ratio that translates into a more efficient use of land, PowerTracker brings stronger financial returns for most large-scale solar power projects than dual-axis tracking systems. More than 50 MWs of PowerLight PowerTracker Solar Power Systems are now deployed, or actively in deployment, and generating clean electricity. PowerTracker has been selected as the solar power system of choice for GE Finance (Serpa Power Plant, Portugal), Deutsche Structured Finance (Bavaria Solarpark I & II), Atersa (multiple solar power plants in Spain), and for many Fortune 500 customers throughout the United States.

About PowerLight

PowerLight Corporation is the leading global provider of large-scale solar power systems, delivering unmatched experience and proven financial performance to commercial, utility, public sector and residential customers worldwide. Since 1995, PowerLight's industry-leading products, technologies and services have enabled our customers to maximize clean energy output along with project savings. Today, PowerLight designs, deploys and operates the largest solar power systems in the world through market-leading innovation and exceptional customer service. For more information, please visit www.powerlight.com.