PHILADELPHIA, Nov 09, 2006 /PRNewswire

 

Governor Edward G. Rendell today announced that Germany-based Conergy AG - the world's largest solar power integration company - has agreed to locate the North American headquarters of its financial subsidiary, voltwerk, and the East Coast operations of its solar engineering and installation subsidiary, SunTechnics, in Pennsylvania.

The move will create up to 50 engineering, financing and management jobs and up to $100 million in clean energy deals over the next three years.

"The international community is taking notice of Pennsylvania's clean energy efforts," Governor Rendell said. "Our commonwealth is a leader in helping to build and deploy a diverse array of alternative energy projects, and that leadership is attracting investments in manufacturing and creating jobs for our residents. Pennsylvania's new economy is being powered by clean energy development, and the door is open to even more opportunities as markets continue to grow."

Conergy, through its voltwerk and SunTechnics divisions, develops more renewable energy systems than any other company in the world, principally focusing on solar, wind and bioenergy projects. The company cited the growth potential of these sources in Pennsylvania as its reasons for selecting the commonwealth as a base.

"The renewable energy market in the United States is growing rapidly and Pennsylvania is taking a leadership role," said Mac Moore, regional head for Conergy in North America. "With the state's forward-thinking policies, we see tremendous potential to develop renewable energy projects and are very pleased to become a part of Pennsylvania's business community."

As one of the most successful international companies specializing in alternative energy projects, Conergy's decision to base operations in Pennsylvania shows that the state remains a key American market for clean energy investment. The state also is home to the Spanish wind-energy company Gamesa Corp., the second-largest wind energy company in the world.

The state is central to growing solar and biofuel sectors. Pennsylvania's clean energy law mandates some 700 megawatts of electricity from solar photovoltaics by 2020, the second largest solar requirement in the country. Within a year, the state also could be the nation's leading producer of biodiesel with a projected 40 million gallons of annual production.

There are more than 5,000 megawatts of untapped wind power in the state, with the potential to generate 45 billion kilowatt-hours annually, or enough to power more than 5 million homes.

The relationship between Pennsylvania and Conergy began when officials from the Department of Environmental Protection and the Department of Community and Economic Development visited Germany in May during the WindEnergy 2006 conference. Thousands of companies, individuals, investors and energy associations from 26 countries participated in the event. Pennsylvania was the only U.S. state afforded a keynote speaking opportunity.

Conergy officials later traveled to Pennsylvania to meet with Governor Rendell, who provided a showcase of Pennsylvania's clean energy initiatives and introduced officials to companies working on advanced technologies in the solar, wind and biofuel sectors.

"Pennsylvania has an international audience, with a growing array of manufacturers and investors looking to set up business in our state," said DEP Secretary Kathleen A. McGinty, who represented the Governor in Germany. "Rather than sending jobs overseas, Governor Rendell is bringing overseas jobs to Pennsylvania, showcasing the benefits that can be realized by refocusing our priorities on clean, advanced, indigenous energy resources."

Conergy's investment in the commonwealth is a direct result of Governor Rendell's $15 million World Trade PA initiative, which quadrupled DCED's international development budget to accelerate and expand the current trade and investment activities and increase the state's global competitiveness. World Trade PA has three major strategies: increase Pennsylvania's share of trade in foreign markets, attract new direct investment to secure jobs and capital, and leverage global networks from Pennsylvania's colleges and universities.

Conergy went public on Germany's Frankfurt Stock Exchange on March 17, 2005, and has experienced tremendous growth. The Hamburg-based company was established in 1996 by Hans-Martin Rueter and at first run from his living room. It now has more than 1,500 employees worldwide and anticipates revenues of more than $1 billion in 2006 compared to $672 million last year -- a 50 percent increase.

"In today's competitive, global economy, Pennsylvania companies compete against international firms, and the state faces tough competition to attract cross-border investment," DCED Secretary Dennis Yablonsky said. "Combined with the Governor's strategic investments, World Trade PA is helping companies of all sizes thrive in today's global market and become a driving force in international trade and investment."

Governor Rendell has pursued a broad array of policies and financial tools to promote advanced energy projects in the commonwealth.

Pennsylvania's Alternative Energy Portfolio Standard, one of the most progressive in the nation, ensures that 18 percent of all retail energy generated by 2020 comes from clean, efficient and advanced resources. The law promises to build substantially on the state's leadership in wind production east of the Mississippi, with wind sources providing enough clean energy to power some 70,000 homes.

Because of that leadership, Governor Rendell was able to lead a campaign to land the Spanish wind-energy company Gamesa Corp., the second-largest wind energy company in the world, beating out many other vying states. With its U.S. headquarters in Philadelphia and manufacturing facilities in Bucks and Cambria counties, Gamesa represents an $84 million investment in the state that will create as many as 1,000 jobs over five years.

The state's clean energy law far surpasses other states in ensuring wide distribution and use of zero-pollution solar power. By 2021, when the solar share is in full effect, utilities will be required to purchase 700 megawatts of solar-produced electricity -- the second-largest solar requirement in the nation.

The commonwealth is leading in other areas of advanced energy development, creating jobs and cleaning up the environment while putting indigenous resources to work.

The Governor recently redoubled the commonwealth's "green" electricity commitment to 20 percent, making Pennsylvania the largest state purchaser of green electricity in the nation. Pennsylvania also is second only to California in the number of buildings certified by the U.S. Green Building Council under the internationally recognized Leadership in Energy and Environmental Design program.

Governor Rendell's "PennSecurity Fuels Initiative" will produce and use 900-million gallons annually of clean, domestic fuel - an amount equivalent to what the state is expected to import from the Persian Gulf 10 years from now. The Governor is investing $30 million over the next five years to build re-fueling and production infrastructure to support wide distribution of the alternative fuels.

Pennsylvania very well could be the nation's leading producer of biodiesel within the year, going from practically nowhere a year ago to a projected 40-million gallons of annual production. The state also contains enough plant matter to produce in excess of 500 million gallons of cellulosic ethanol per year.

The nation's first coal gasification-liquefaction plant is being built in northeastern Pennsylvania. The facility will use waste coal to produce 40-million gallons of clean-burning diesel fuel each year. What the Governor is doing to support the project is unprecedented, creating a fuel consortium with private industry to purchase nearly all of the offtake. Pennsylvania will lock in its supply for some 10 years at prices well below current market values and ensure a long-term, viable market for the plant.

Pennsylvanians now spend some $30 billion per year on imported energy fuels. Instead of spending overseas, Governor Rendell is investing at home and putting Pennsylvanians to work.

Brought back to life after years of inactivity, the Pennsylvania Energy Development Authority has awarded $21 million in grants and loans for 57 clean energy projects that will leverage $240 million in private investment. The projects will create 975 permanent and construction jobs.

The Pennsylvania Energy Harvest Grant Program has awarded $21 million and leveraged another $51.9 million in private funds since its inception in May 2003 for projects using sources such as wind, solar, biomass, waste coal and recycled energy.

For more information on Governor Rendell's energy initiatives, visit the department's Web site at http://www.depweb.state.pa.us, Keyword: "Energy." For more information on Conergy, please visit the company's Web site at http://www.conergy.com.

The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses.To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us .

SOURCE Pennsylvania Office of the Governor

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