09/06/2010 - Enfinity Power and Enfinity EPC complement Enfinity's renewable energy value chain

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Waregem (Belgium) – München (Germany), June 10, 2010 – Enfinity Group, the leading global renewable energy provider, announces two new strategic initiatives at the occasion of the Intersolar fair in München: Enfinity Power and Enfinity EPC complement the company’s existing offering to customers. Enfinity Power is a distinct entity within Enfinity Group and will focus on the production and sales of renewable energy to customers. Enfinity Power complements the existing project development activities with an additional business model to drive revenue growth through the ownership and operation of renewable energy projects. Within Enfinity EPC, the company bundles its thorough expertise and successful deployment of Engineering, Procurement and Construction (EPC) contracts in several core markets.

Developer, Investor and Power Producer

Enfinity Power will be headed by Hans De Backer as chief executive officer of the new enterprise. With Enfinity Power, Enfinity Group moves into the market of Independent Power Producers (IPP). As an IPP, Enfinity Power will produce and sell renewable power to customers as an addition and challenge to the established conventional electricity providers. “Enfinity Power will generate a predictable and important recurring income base in addition to the Group’s classical business model in which the shares of the Special Purpose Vehicle (SPV) are sold to the project owner once it has been completed”, says Hans De Backer. “Therefore Enfinity Power will keep full control over certain SPV’s, the companies that are specifically set up for each renewable energy project”, De Backer adds.

The move onto the IPP market marks a key milestone in the development of Enfinity and will drive more revenue for the company as a whole. Thanks to its new entity, Enfinity Group will now be able to provide the best possible renewable power solution even more adequately to every single customer in the world. As Enfinity Group has today fully-permitted solar projects for over 120MWp in portfolio, Enfinity Power can immediately start operations and targets to own and operate over 200MWp of solar SPV’s by 2011.

Global expertise, local execution

Executing projects by Engineering, Procurement and Construction (EPC) contracts is increasingly becoming important within the renewable energy industry worldwide. As such Enfinity is structuring the company’s know how into the Enfinity EPC Initiative to ensure that the company’s EPC approach can successfully be replicated on a global scale.
EPC contracts need thorough understanding, especially in a global context in which it is even more difficult for the contractor to manage various factors that affect the working, the results and success or failure of the contract. “Thanks to its pioneering role, entrepreneurial spirit and thorough expertise in project development, Enfinity finds all the assets under one roof to offer the best EPC solution to project owners”, explains Patrick Decuyper, co-founder of Enfinity Group. Important areas of expertise that Enfinity offers to its customers through Enfinity EPC are know how about global and local regulations and directives about renewable energy, a thorough knowledge about local and global market conditions for the supply of quality labour and materials and the availability of local and global engineering services.

Until today Enfinity has successfully installed over 400 rooftop and land sites for a total of 85 MWp under EPC contracts. In 2009 the company’s EPC business grew by over 100%, making Enfinity one of the fastest growing companies in delivering renewable energy EPC contracts.

Finally, a project developer or owner who decides to work with Enfinity through EPC does also take advantage from contracting a stable and solid partner, ensuring a flawless and timely execution of the agreed contract.

Leadership alignment to ensure future growth

As part of transforming the company into a truly global solution provider, the leadership team has recently been aligned to match Enfinity’s business goals with the continued expansion of the company into new business areas and new regions. Therefore Steven De Tollenaere has been appointed as chief executive officer of Enfinity Group. Hans De Backer will take on a dual role as the group’s chief financial officer and chief executive officer of Enfinity Power to drive the successful integration of new business models into the company’s asset base.

Steven De Tollenaere (41) joins Enfinity from Shurgard Europe, where he served as chief executive officer since 2005. He is gifted with excellent execution skills and has a proven ability to lead strong growth environments.