Sineng to Supply the Largest Solar Power Plant in the Western Balkans, Advancing Albania's Renewable Energy Goals

Fier, Albania, August 4, 2023 - Sineng Electric, a leading provider of renewable energy solutions, proudly announces its participation in the 140MW Karavasta solar farm developed, built and operated by Voltalia, which stands as the largest photovoltaic (PV) plant in the Western Balkans and Albania's first utility-scale PV plant. This groundbreaking project not only encapsulates Sineng's intense devotion to shaping a greener world but also marks a significant milestone in Albania's journey towards sustainability.

Albania's Ministry of Infrastructure and Energy, driven by ambitious climate objectives, endeavors to add an additional 1 Gigawatt (GW) of renewable capacity through at least three procedures, positioning Albania as a net exporter of renewable energy by 2030. This solar project which deploys Sineng's cutting-edge EP-6250-HC-UD/30 MV turnkey stations, plays a pivotal role in realizing these targets, with the innovative solutions leading the way.

By choosing the EP-6250-HC-UD/30 turnkey stations, renowned for their exceptional advantages such as a maximum DC/AC ratio of up to 1.8, impressive generation efficiency, and enhanced overloading capability, the project developed by Voltalia will ensure improved reliability and optimize the return on investment for the entire PV system.

With Sineng's industry-leading solutions and exceptional services, the Karavasta Solar Project emerges as a catalyst for a greener ecosystem while paving the way for economic decarbonization. Once commissioned, the plant will generate sustainable electricity, effectively satisfying the annual consumption needs of nearly 220,000 inhabitants. Furthermore, this significant achievement will mitigate over 29,165 tons of CO2 emissions annually, equivalent to an outstanding 9.5% reduction in the industrial sector's carbon emissions in Albania.

Jianfei Li, Vice President of Sineng Electric declared, "The Karavasta Solar Project is acting as a driving force behind the significant expansion of local energy sources. Sineng stands honored to be chosen by Voltalia and be part of this transformative initiative, offering technologically superior and environmentally conscious solutions. We firmly believe that this landmark project will set a benchmark for the adoption of renewable energy in the Western Balkans."

About Sineng

Sineng Electric Co., Ltd. is the global leading supplier of a comprehensive product portfolio including PV inverters and energy storage systems for utility-scale, commercial & industrial, and residential applications.

By establishing four R&D centers and leveraging top-notch resources, Sineng's unwavering commitment to technological innovation has enabled more people to access cost-effective, reliable, and sustainable energy. After the three global manufacturing bases being put into operation, the annual production capacity can now reach 40GW. Known for the engineering excellence, rigorous testing standards, and consistent quality, Sineng is a market leader in the industry and ranks Top 8 in the global PV inverter market share.

Providing a wide range of solutions and services across the globe, Sineng is playing an important role in accelerating the global energy transition, striving to build a greener future.

About Voltalia

Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 2,7 GW and a portfolio of projects under development representing a total capacity of 14,2 GW.

Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance. As a pioneer in the corporate market, Voltalia provides a global offer to private companies, ranging from the supply of green electricity and energy efficiency services to the local production of their own electricity.

The Group has more than 1,550 employees and is present in 20 countries on 3 continents and is able to act worldwide on behalf of its clients.

Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of the Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaia-Index, an index for socially responsible midcaps.