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ForewordThroughout the world the renewable energy industry continues to grow, both in importance and in size. Enfinity, founded only in 2005, specialises in solar energy, and has quickly grown to become a significant player in the renewable energy field. Enfinity develops, finances, constructs, operates, sells and maintains renewable energy projects across the globe. We are the largest independent company focused exclusively on solar energy, and among the world’s six largest developers and owners of solar installations.

Enfinity’s goal is is to become a major leader in solar energy development and distribution; we know this can only be achieved by working in full partnership with our customers and partners. Accordingly, we will further strengthen Enfinity’s position in the coming years by continuing to expand our activities in Europe, Asia and the Americas. Our recent continental organisation will enable us to focus intently on that expansion - we are now a company of more than 200 employees with the knowledge, passion and commitment required to complete this mission.

Enfinity is also profoundly aware of its social responsibilities; we support sustainability projects at home and abroad that contribute to a safe and healthy environment.

This magazine has been produced to celebrate Enfinity’s fifth anniversary. In the following pages we want to give you a glimpse into our world – our people, operations and history.

I hope you enjoy reading our story.

Steven De TollenaereCEO Enfinity Group

PublisherPresent Press B.V.Nijverheidsweg 74104 AN CulemborgPostbus 574100 AB CulemborgT 0345 - 750 200F 0345 - 750 249E info@presentpress.nlI www.presentpress.nl Board of ManagementRob KriegsmanBarry Reede

Traff i cYolande Deuss

Account Management Henriette van LeipsigJos van der Gun

Editor Karin Jongkind

Design and layout Accentdesign, Mijdrecht

Photography Herman van der Veer

ClientWOGroenoord

CoordinationTom VanlerbergheJurgen Van Damme

This magazine was realised with the cooperation of:Cegelec NVDEMAR-LUX bvbaDexia LeaseFabricom-GTIFronius International GmbH.GLE Global & Local Expertise saInteroute Belgium NVKBC Lease Belgium NVMontaco NVRabobank International SAP Belgium n.v./s.a.Skinn graf isch bureauSMA Benelux bvba/sprlSolar Construction cvbaTerremark & Delaware Consulting The Talent Gallery bvbaTriodos Bank n.v.TrinasolarVan De Maele Multi-TechniekWaak BW vzwXerox Alpha Center n.v.3E

CopyrightsWithout the prior written conf irmation from the publisher, the contents of this magazine may not be copied in whole or in part. The editor is not responsible for any imperfections.

This magazine is made of less environmentally harmful paper.

COLOFON

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Core business:- To finance, develop, build and operate ground or

rooftop based solar power installations for the investors and business market.

- To deliver PV systems (solar panels, inverters and assembly systems) for the private market via a network of professional dealers.

Position:Enfinity is active in the downstream part of the photovoltaic value chain and covers all clients segments

Key figures:- Turnover 227 mio Euro in 2010- Workforce of > 200 employees with highly

qualified and experienced people

- PV Power Worldwide >230 MW, constructed and distributed in 8 countries in 3 continents

- Ranked as 6th PV developer worldwide (source: PHOTON Consulting, 2011)

Headquarters:- Group Headquarters in Waregem – Belgium- Regional Headquarters in Atlanta – US and

Hong Kong - Asia

Mission:Creating the best solutions for renewable energy to make it accessible and affordable to everyone around the world

Structure:Enfinity has 5 business units: Invest, Develop, Technics, Trade and Power.

About Enfinity

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The beginning...an interview with Enfinity’s founders Gino Van Neer and Patrick Decuyper.

Founded in 2005, Enfinity was the brainchild of Gino Van Neer and Patrick Decuyper. The two entrepreneurs, friends since their student days, had long been contemplating creating a joint venture. By the end of the 1990s, Decuyper had completed his industrial engineering degree in electro-mechanics and earned a post-graduate degree in business economics. Gino Van Neer graduated as an agricultural engineer and earned an MBA in marketing at the Vlerick Management School.

Decuyper: “Back then our idea was to start a café, but ultimately we shelved that plan. After finishing my studies, I first spent two years working for a construction contractor. When I was twenty-seven I decided it was finally time to start a company of my own, and spent ten years building a successful

Patrick Decuyper and Gino Van Neer - founders Enfinity

operation. I was in a good place - I had ten employees, and there was a successful management team to run the day-to-day operations. But the dream of a collaborative venture with Gino still appealed to me. We saw each other often, and after one of our evening sport get-togethers we wound up in an intense conversation about sustainable energy.

Through my work with the contracting company I had a number of contacts in the sunshade sector and knew that solar energy had a lot of potential. At that time a number of foreign suppliers were working on systems to convert solar energy into electricity.” >>

“Back then our idea was to start a café, but ultimately we shelved that plan.”

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During the same period, Gino Van Neer also had his own company – a successful marketing organisation. Via an exhibition center he met a solar cell manufacturer.

Van Neer: “Patrick and I brainstormed intensively about renewable energy; we both believed that solar power had great potential. In 2005, there were virtually no Belgian companies involved in the solar business. We decided to make our dream a reality and looked into starting a business in the environmental field.”

Decuyper: “There was a real gap in the market, so we drafted a business plan for the development of solar power stations and solar panels.”

Van Neer: “We began with thorough market research and made many calculation models. The conditions

Opportunities with solar energy

seemed to be favourable, so we decided to take the gamble and start a new company. We chose the name Enfinity, which combines the idea of ‘energy’ with the ‘infinite possibilities’ of sustainable solar energy.” >>

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An enthusiastic start – and dealing with early challengesDecuyper: “In the beginning it was hard to get the business off the ground. People were positive about sustainable energy, but investors were hard to find. Everyone saw the potential of tapping the sun as a new energy source, but doubts ran high concerning the success of the technology. Help arrived from an unexpected quarter. Al Gore’s film ‘An Inconvenient Truth’ helped increase awareness of the advantages and necessity of utilising renewable energy.”

Van Neer: “In 2006, Enfinity began selling solar panels. We had high expectations, but our first year was a disaster. We were operating out of our homes and hardly sold a thing.”

Development: A different business modelEnfinity quickly discovered that companies were unwilling to make long-term investments in solar energy. Prospects were only interested in short-term returns.

Van Neer: “We decided to change our business model. Solar panels simply do not generate a return in the short term. These kinds of investments can only be written off after eight years. We therefore began looking for people who were willing and able to make longer-term investments. This quickly brought us in contact with Marc Dewaele of Lomat, a company >>

Residential installation by an Enfinity dealer

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Marc Dewaele - business angel

located in Waregem (Belgium) specialising in yarn, polyester staple fibre, latex, etc. Marc Dewaele saw the potential in Enfinity and decided to risk investing in the young company. With his support we developed a simple yet very effective concept that enabled Enfinity to grow exponentially in a short period of time. Simply put, a company leased its building rights on the roof to Enfinity in exchange for payment. We then covered the entire roof with solar panels. The company then purchased the produced electricity from us for a price that was far more attractive than that offered by the regular energy producers. With effective marketing support, our marketplace began to see that while the purchase of solar panels is indeed expensive, it would be an investment with great benefits over the long term. Maintenance is minimal - and the sunshine is free!”

Global player - Enfinity begins a period of accelerated growth Decuyper: “At the end of 2006, we had the opportunity to develop projects in Spain. Several of them were ground-mounted installations, rather than the rooftop arrays that we were used to; that was a valuable learning experience. By investing in solar, Spanish companies were able to “lock in” a fairly stable electricity price for 20 years, certainly lower than their regular rates. Furthermore, it allowed those companies to promote themselves as being ‘green’, which was good for their image.” >>

“With effective marketing support, we showed that solar energy is a long term investment with great benefits.”

Villarrobledo - Spain - 2.268 MWp

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Pillars of successIn 2007, Enfinity found additional opportunities throughout Europe and became more active abroad. Solar installations were built in Italy, Spain, France and Germany in rapid succession.

Decuyper: “We then crossed the ocean to establish operations in the United States and Canada. To finance these North American solar energy projects, Enfinity worked with individual project funds, comprising investors and banks.”

Van Neer: “Our success rests on various pillars. First and foremost, we are active in sustainable economic solutions and we deliver those solutions internationally. The core of our philosophy is the conviction that solar energy is less expensive than fossil fuels in the long-term. We work towards a cleaner environment and that not only gives us, but also all employees, an enormous kick.”

Decuyper: “But that must never come at the cost of quality and the working environment. In the early years we learned the importance of enjoying running the business, and it must be enjoyable for the >>

“Today Enfinity is a global, professional organisation that is also an attractive employer for young, talented people with a background in IT, telecom and engineering.”

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employees as well. Without their efforts, this growth and development would never have been possible. In those early years it was quite difficult to find the right people for Enfinity - there were precious few who believed in the new technology as much as we did.”

Van Neer: “We’ve come a long way since then. Today Enfinity is a global, professional organisation that is also an attractive employer for young, talented people with a background in IT, telecom and engineering. They are now more willing to make the move to a green sector company like Enfinity.”

Business unitsEnfinity now has 5 business units: Develop, Invest, Technics, Trade and Power. ‘Enfinity Develop’ develops renewable energy projects, with a focus on

solar energy. In recent years it has gathered extensive knowledge about solar energy, and closely follows the technological evolution of photovoltaics. ‘Enfinity Invest’ is a leader in sustainable energy project financing. Thanks to its international network and solid reputation among financial institutions and investors, it is considered a professional and reliable player in the green industry. ‘Enfinity Technics’ installs, maintains and inspects solar energy installations for the business market. ‘Enfinity Trade’ delivers ready-made solar energy installations for the private market, offering a wide range of efficient solar panels and assembly systems. ‘Enfinity Trade’ collaborates with an extensive network of authorised professional dealers. ‘Enfinity Power’ manages those solar installations owned by Enfinity, competing with incumbent electricity producers in the commercial market. >>

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While Van Neer and Decuyper look back with pride on what they have achieved, they prefer to keep their eyes looking ahead.

Van Neer: “We have always invested heavily in geographic growth, and that takes a constant stream of new capital. During the global economic crisis, it was not always easy to get projects funded. A capital injection of €50 million by investment company Waterland in 2009 gave us the financial resources to continue Enfinity’s international expansion. A surprising development is that Asian governments are ever more willing to provide financial support for renewable energy projects, while in Western Europe the subsidy stream is slowly drying up.” >>

The FuturePioneer - Hanford (CA), US - 788 kWp

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The fruits of a unique collaborationnew challenges and a new direction.

Decuyper: “Our rapid growth has been fantastic, but it also has a downside. I am an entrepreneur at heart, less so a manager. A responsible manager of a large company like Enfinity should focus more on risk management and business processes rather than pure innovation. Accordingly, we made some constructive management changes; I am now chairman of the Board of Management and will continue my involvement in new projects in Romania and Bulgaria. Such a move has enabled me to become more involved with my community - I am now also general manager of first division football club Zulte Waregem.”

AmbitionVan Neer: “We are still far from finished with Enfinity

and have many plans for the future. We want to grow into more regions like Africa, South America and Asia. We also want to continue to grow in parallel with renewable technologies. Solar panels are currently the stars on the renewable stage, but that will certainly change within the next ten years. We foresee that by then the world will mainly be running on green energy. Moreover, we have a number of business objectives for Enfinity, such as defending and strengthening our position by achieving greater cost-efficiency and cost-awareness, for example. The latter is necessary because several government subsidies for renewable energy will be reduced or terminated in the near future. Furthermore, Enfinity is an important employer. The company currently employs over 200 people, but indirectly we are responsible for many more jobs. That responsibility is one we will gladly continue to bear in the future as Enfinity continues its journey.”

Gino Van Neer is still active at Enfinity today as CEO

for Asia; Patrick Decuyper was involved until March

2011 as CEO for Europe. Today he is chairman of

Enfinity’s Board of Management and general manager

of Belgian First Division football club Zulte Waregem.

VGP - Czech Republic - 2.9 MWp

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1. Villarrobledo - Spain - 2.268 MWp 2007 - First PV installations outside Belgium

2. Residential - Belgium - 4.32 kWp 2007 - Launch of Enfinity Trade

3. Lidl - Gullegem, Belgium - 939.06 kWp 2009 - Signing of a pan-European deal with Lidl

4. Mc Bride - Ypres, Belgium - 1.2 MWp 2006 - First PV installation over 1 MWp

1

2

3

4

Milestones

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Fiche technique• Localisation : Dunhuang, Gansu• Fin des travaux : juillet 2010• Type d’installation : centrale au sol, tracker, 1 axe• Puissance : 10,488 MWc• Production annuelle : 18.045 MWh• Equivalence de production d’électricité en nombre de

foyers par an : 5.156• Quantité de C02 évitée par an : 258.775 tonnes

sol 23

DunhuangDunhuang, Gansu, Chine

Description• L D C • I M • I

• P • P M • M • I • EPC C CGNPC E fi • O M CGNPC E fi • C D • I CGNPC E fi • G N A• L • D fi C C B

Dunhuang

PROJECT

About the project QILI D J G fl G fi K D F ff MB I A P P I P M MB LI HEN P LI HEN K

P

D

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5. Verhelst - Oudenburg, Belgium - 4.2 MWp 2009 - A green makeover for landfill site.

6. Dunhuang - China - 10 MWp 2010 - First Asian project

7. Artexis - Ghent, Belgium - 1.87 MWp 2010 - First Belgian exhibition centre operating on solar energy using thin film technology

5

6

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8. Luciani - Puglia, Italy - 285.12 kWp 2010 - First ground-based Italian installation

9. Balta - Sint-Baafs-Vijve, Belgium - 4.385 MWp 2009 - Largest rooftop PV installation in the Benelux

10. VGP - Czech Republic - 2.9 MWp 2010 - Opening of first Enfinity Czech PV installation

11. Cardif - Buccinasco, Italy - 498 kWp 2011 - Enfinity full speed ahead as EPC-contractor

Zonne-energie zonder enige investering?Het kan ook op uw bedrijfsdak.

Verhelst, Oudenburg, XXX MWp bpost, Gent, XXX MWp Callens, Waregem, XXX MWp

11

Milestones

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12. Pioneer - Hanford (CA), US - 788 kWp 2010 - Three school campuses cut energy costs by 77%

13. Solar Tunnel - Belgium - 4 MWp 2011 - Unique PV project over a high-speed rail tunnel

14. BIPV - residential - Belgium - 6.2 kWp 2011 - Launch of Enfinity integrated PV systems

15. Les Mées - Les Mées, France - 18.2 MWp 2011 - Largest Enfinity ground installation in Europe

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Logistics & QualityHenk Vanderhaeghen is Enfinity’s Head of Operations, and his responsibilities in that role include logistics processes. Along with Marc Wilmotte, Henk also shares responsibility for ensuring the quality and continuity of the provision of Enfinity’s services.

Henk Vanderhaeghen - COO Enfinity Group

Enfinity’s European distribution center - Assenede, Belgium

Supply chain management – why logistics processes are a vital part of Enfinity’s business operationsVanderhaeghen: “Control over the flow of goods, based on supply chain management, is essential to our operations. Only then can we complete our projects on time, within budget and with the promised level of quality. Everything revolves around good planning: the amount of stock we must maintain, the volume and type of production capacity we must reserve, and the optimal sequence of the production steps. The purchase of the required materials is a critical factor in maintaining the established planning. Our purchasing professionals must obtain the highest quality parts for solar energy installations with the best possible terms.”

Those who are familiar with supply chain management know that this market revolves around communication and information technology. There are many software packages available to support these logistical processes. At Enfinity the focus is primarily on the planning systems.

Vanderhaeghen: “The professionalism of our employees is also a critical success factor. Take for example the challenging negotiation process for the many different parts of the panels and the installations. The entire team works continuously to achieve one goal: the best possible result for the customer. Enfinity has shown that with expertise, team spirit and sound collaboration, it’s possible to be tremendously successful.” >>

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Guaranteed service life through quality assuranceQuality is an important aspect of Enfinity’s products. That goes without saying, as the power installations and solar panels have to last more than 20 years. To guarantee such a long service life, a precise production process is required. Numerous inspections throughout the production process are essential to ensuring a long-lasting, high-quality product. The subcontractors must also adhere to strict quality assurance procedures.

Wilmotte: “For a company like Enfinity, environmental management is an important part of the quality processes. Enfinity is certified in accordance with ISO 14001. A good environmental management system helps improve both the business processes and the everyday environment. It all revolves around having the vision to look ahead and make thoroughly considered decisions. For Enfinity, good environmental management also means we purchase new machines that may be more expensive but consume less energy

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and are therefore less of a burden on the environment. The ISO 14001 certification shows that environmental considerations are an important aspect of our decision-making processes, even when it comes to energy consumption and waste management. Enfinity follows the EMAS guidelines (EU Eco-Management and Audit Scheme) in this regard. The EMAS declaration is an independent assessment of the environmental report, which details the organisation’s environmental performance. The EMAS scheme is intended to stimulate organisations to implement an environmental management system and continuously measure and improve their environmental performance.”

EMAS

BUREAU VERITASCertification

ISO 14001

BUREAU VERITASCertification

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AmericasEnfi nity America Corporation Head Offi ce2 Concourse ParkwaySuite 505Atlanta, GA 30328United Statesinfo@enfi nitycorp.comwww.enfi nitycorp.com

Atlanta

Ottwawa

Sacramento

2010 – Launch of three ‘solar schools’in Hanford, California.

2011 – Start of the ambitious Stardale project, over 30 MWp.

2011 – Enfi nity partners with Carleton University in Ottawafor PV research.

2010 – The Canada Aviationand Space Museum in Ontario goes green, with plans for a PV rooftop installation.

Ottwawa

Enfi nity around the world

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EuropeEnfi nity Group Head Offi ceEnfi nity GroupHenri Lebbestraat 1888790 WaregemBelgiuminfo@enfi nity.bewww.enfi nity.be

2008 – Inauguration of fi rstSpanish projects in Villarrobledo.

2011 – Opening of a new UKoffi ce in Liverpool.

2011 – Inauguration of Enfi nity’s largest ground PV project to date.

Liverpool

Aix-en-Provence

Waregem

Milan

Madrid

Enfi nity around the world

LiverpoolLiverpool

Prague

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2010 – First deals with social housing providers in the UK.

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2011 – Inauguration of several Italian plants.

2011 – Offi cial launch of theEnfi nity inverter.

2010 – Inauguration of VGPPV installation.

Athens

Tel Aviv

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AsiaEnfi nity Asia-Pacifi c Head Offi ceEnfi nity Asia Pacifi c Limited1705-06 Offi ce Tower, Convention Plaza1, Harbour RoadWanchaiHong Konginfo@enfi nity.com.hkwww.enfi nity.biz

Hong Kong

Nonthaburi

Peking

Shanghai

Manila

Chennai

Dubai

2010 – His Royal Highness Prince Philippe of Belgium visits the Enfi nity offi ce in India.

2008 – Signing ceremony of fi rst Vietnamese contracts.

2009 – Start of the Dunhuang project.

Enfi nity around the world

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Both the United States and the province of Ontario in Canada are fast becoming a focal point of global photovoltaic (PV) industry attention. As PV system costs fall, electricity prices rise and project financing becomes more available, this market is inching closer to reaching its potential as a major centre of global PV demand. The U.S., with its growing list of states investing in PV projects, and the province of Ontario with its aggressive feed-in tariff (FIT) programme, naturally became areas of interest for Enfinity; offices were established in the Americas in 2008 and successful PV projects followed in Ontario and California.

We brought together Rafael Dobrzynski (Enfinity Americas CEO), Wim Goethals (Enfinity Americas Chief Financial Officer) and Martin Gavin (Senior Project Manager). We asked them for their thoughts about the PV market in the Americas.

Can the PV industry really expand and thrive outside of the ‘sunshine state’ California?Dobrzynski: “California was the first state to imple-ment financial incentives to support PV development, and the U.S. PV market has grown from that founda-tion. Now we’re seeing a more mature and expanded PV market, with the focus of activity shifting slightly away from California, and that’s a crucial change of perspective; it means that it won’t be alone in supporting market growth over the next few years. >>

USAThe growing investments in the US and Canada in PV projects naturally became areas of interest for Enfinity.

Canada Aviation Museum – Ottawa, Ontario, Canada – 295 kWp.

enfinity / 29

The growth of secondary markets such as New Jersey, Arizona, and Colorado has energized the PV market-place. There’s a great deal of development activity and we’re part of that environment. This trend will continue which can only mean a successful, thriving PV market outside of California. Nevertheless, California will remain the bedrock of PV activity and demand, especially in utility-scale installations. It’s going to be an exciting time, filled with opportunities and challenges such as dealing with individual states, each with its own unique regulatory structure and approach to incentives. Our Enfinity Americas team is flexible and capable enough to handle those demands.”

What are the key drivers in the successful completion of Enfinity Canada’s biggest project ‘the 30 MW Stardale installation in East Hawkesbury, Ontario’?Gavin: “It’s all in the details. Getting a design firm with relevant PV system experience involved early, is an important factor. Then we ensure that the design package is not only buildable, but also includes functionality for operating the PV generation plant. Site development - clearing, grading, drainage work, road construction – is critical and performing this work early can avoid problems further down the road. Obviously, having a clear path to interconnection with the local utility company is important, and utility interconnection requirements need to be understood, addressed and resolved very early in the design and engineering process. When it comes to equipment and services procurement, having those supply agreements in place early helps us to move the project along smoothly. We retain contractors that have relevant PV experience so that we can deliver a safe, high >>

“Obviously, maintaining a good working relationship with the local utility company is essential for PV projects to succeed.”

Pioneer - Hanford (CA), US - 788 kWp

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quality and on-schedule project. All this cannot happen without a high quality project and construction management team, comprising the owner, prime contractor, major contractors and subcontractors. With such a team working together, a solar PV project like Stardale stays on course, overcomes challenges and is completed successfully.”

How has the structure of PV financing changed since Enfinity first entered North America?Goethals: “We entered this market at the peak of the credit crisis, when there was clearly a dearth of capital ready to invest in Solar PV, especially on the US tax credit equity side. Since then, the situation has almost reversed itself, with money (debt and equity) now in search of quality projects. After a brief hiatus, almost all of the traditional players returned to the market and we are seeing some interesting new entrants as well. Compared to some other geographical markets, these investors are sophisticated and experienced, and know exactly what to look for in a project, a developer or EPC-contractor. There is a strong focus on proven track-record, a robust pipeline and a healthy balance sheet, all factors that help us to further solidify our competitive position here in North America.”

Looking beyond 2011, how will Enfinity fit into the Americas PV market?Dobrzynski: “I think we are very well positioned to become a key player in the Americas PV market. We have been able to demonstrate an impressive range of projects and experience in Europe, and that has been a valuable asset when we are meeting with potential customers here. As we have grown, our Americas projects with municipalities, school districts, commercial buildings and utilities have shown that we can deliver real results in an environment where financing has been hard to find. I think the Enfinity model, where we add value at multiple downstream points such as financing, development, EPC or asset management, sets us apart from the crowd and will help establish Enfinity as a market leader.”

What is the key to Enfinity’s continued success in the Americas?Dobrzynski: “Having the right team, making the right connections and then executing with precision.”

“The Enfinity model, where we add value at multiple downstream points, sets us apart from the crowd and will help establish Enfinity as a market leader.”

Rafael Dobrzynski

WAAK Metaal & Assemblage

Volledig geïntegreerde productiefaciliteiten.

Co-engineering op maat.

Grote flexibiliteit en efficiëntie.

Sterk gestructureerd met oog voor kwaliteit.

1700 enthousiastemedewerkers, een flexibele organisatie,45 jaar ervaring en know-how, een integrale aanpak,80 000 m² productieruimte en vooral meedenken metEnfinity als partner.

We give you agebruik maken van onze diensten draagt bij tot duurzame tewerkstelling van personen met

een arbeidshandicap

WAAK BW vzw Heirweg 125 BE-8520 Kuurne Belgium www.waak.be

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When it comes to sales, Enfinity distinguishes between consumer-oriented activities and commercial/industrial projects. Although the final objectives are the same - the installation of solar panels and installations to generate electricity - each requires a different approach. Rik Missault is Head of Trade business unit, which focuses on the sale of panels and network distribution for the residential market.

Missault: “Those sales take place via authorised dealers and installers. They work almost exclusively for Enfinity, and in Belgium alone we have more than 60 dealers. This makes us the market leader for retail sales in Belgium. These dealers receive the products from Enfinity’s central warehouse. We are also an important player in many other European countries, such as France, Italy and the UK. Every country has its own particular requirements and therefore demands a specific approach. In France, for instance, the panels must be integrated into the roofs, so we adapt the products accordingly. In the UK it is the inverters that require a technical modification. We have a sales office in each country, which is responsible for both the product management and technical support. For every country, though, reliable delivery of the solar panels and installations is the most important criterion: customers demand stable supply levels and top quality at an attractive price, with optimal technical and marketing support. Our business unit is continuously committed to, and focused on, delivering this promise.”

Adding significant value to Enfinity products through an exceptional warrantyMissault: “Our solar panels and inverters come with a 10 year warranty as standard, whereas our competitors don’t go over 5 years. We’re able to offer this warranty because we maintain such strict quality parameters.” >>

Top quality at an attractive price

Rik Missault - Head of Enfinity Trade

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Products under private label

Enfinity has the right economy of scale to be able to deliver its products at a highly competitive price. The company is also able to maintain sufficient stock in its own warehouses to meet customer demand. To further strengthen its market position, Enfinity began offering a complete line of private-label products in early 2011. European quality controls are stringent, and that adds extra value to the Enfinity brand name. Enfinity has extensive marketing knowledge and expertise and is therefore able to provide its dealers with effective and timely support.

Product developmentEnfinity strives towards continuous innovation and quality. This can be seen in the development and launch of new products, such as our own product line of solar panels and inverters. Moreover, we always use the latest technology available.

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Enfinity solar systems Our own extensive range of high performance monocrystalline and polycrystalline modules is fully accredited under the Microgeneration Certification Scheme (MCS). Enfinity modules come with a 10 year product warranty and a 25 year performance warranty as standard.

www.enfinity.biz

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What are Enfinity Italy’s strengths?Zorgno: “We share the passion and energy that you see throughout Enfinity; we are a young and fast growing company, and I think our customers and partners appreciate that level of enthusiasm. Our most important strength is certainly our employees - they thrive on working in a changing and competitive environment. We are an integrated player, so we can handle every phase of a PV project. In Italy not all our competitors can offer such a broad range of services. We enjoy good name recognition everywhere and Enfinity Italy is in a much better position than a few years ago. We can still select our partners and that is very fortunate.”

What do you believe will happen in the PV sector in the coming months?Zorgno: “In Italy we will see a redefinition of the

A chat with... Francesco Zorgno, Head of Enfinity Italy

players in our sector. Some of them may change their core business, some will resize and others will disappear. This is to be expected in a country where we had huge growth and plenty of opportunities for many players in the PV value chain. Most of these players will follow the same strategy as us and concentrate on rooftops and medium-sized projects throughout Italy. We will certainly also see a reduction of profit margins, and this could cause some problems for those players less integrated as Enfinity. We are in the position to decide where and how much margin we include in a PV project.”

How will the new feed-in tariff scheme impact the Enfinity strategy in Italy?Zorgno: “In Italy we still have one of the most attractive feed-in tariff schemes in Europe. There were some important changes made in August 2010 >>

Vallediaccio - Puglia, Italy - 313.92 kWp

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(the Third Conto Energia) so we started working on a different strategy at the end of last year: more focus on medium-sized projects, and principally rooftops. We are bringing the experience we gained in Northern Europe back to Italy. The latest draft of the legislative decree issued in April of this year (the Fourth Conto Energia) confirmed this trend. So these are the projects that show the highest potential in terms of return, and that can assure a long and profitable future for Enfinity Italy.”

Which is the most important characteristic for survival in the new European scenario?Zorgno: “You need to have the flexibility to respond quickly. Integration will certainly also be a key success factor in the coming months and years. This enables us to choose the phase at which we enter a project, as we are able to handle any or all of them. Consequently, we can also decide which step will generate our margin. This is very important: non-integrated companies can face great difficulties reaching their profit objectives in this new scenario.”

Enfinity 5 - Chignolo (PV), Italy - 3.3 MWp

Francesco Zorgno - Head of Enfinity Italy

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Enfinity supports Solar Without BordersThere are nearly a billion and a half people in the world without electricity, mainly in central Africa, India and Eastern Asia. Solar Without Borders is a non-profit organisation that intends to help improve this situation. The organisation provides assistance in these developing countries for the installation of solar panels to establish vital supplies of electricity. The solar energy is primarily intended for community purposes, such as hospitals, schools, orphanages and community water systems. This is of real importance, as the development of health care facilities is directly dependent on a working supply of power. Hospitals require electricity for light, sterilisation and refrigeration for the storage of medicines. Electricity is also essential for schools and water pumps.

Socially responsible

Bert Bernolet is the director of Solar Without Borders. He says “It’s a fantastic organisation, which together with other Belgian and international charitable organisations works to improve the living conditions in developing nations. I came into contact with Solar Without Borders during college. My school sponsored a project in Togo that involved placing a single solar panel and control system in a small village to provide the hospital with electricity. It was a very small project, but the impact on the entire village community was enormous. I continued to be involved with the foundation, and during my internship at Enfinity I was also able to interest Patrick and Gino in these development activities. In 2008 I decided to focus all my energy on Solar Without Borders. Enfinity supported my decision and by that time had become an important sponsor. With the support of Enfinity and other companies, Solar Without Borders has now installed 18 projects in eight countries. The foundation supports these projects by providing the knowledge and experience to perform the necessary calculations, by purchasing and delivering the materials, and by arranging the transport and installation of the panels and control systems. In total, 140 solar panels have been installed in countries such as Mongolia, Senegal, Kenya, Togo, Benin, Guatemala and Tajikistan. These solar installations represent a total production capacity of approximately 14,000 kWh of electricity and have helped improve the living conditions of around 40,000 people.”

In Togo the work of Solar Without Borders even goes a step further. “We recently established our own production unit for solar panels. The local population has been trained to build and install solar panels themselves, and these are sold to the villages in Togo.”

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Enfinity is also active in sponsoring sporting clubs: in Belgium we are the shirt sponsor of football club Zulte Waregem (where, since early 2011, Patrick Decuyper has been responsible for the daily athletic and commercial management operations of the Jupiler Pro League team).

Zulte Waregem plays at a highly-competitive level and receives a lot of media attention. Through its sponsorship, Enfinity contributes to the growth of the football club. This also allows the company to promote its activities and increase its brand awareness among the public at large and in the corporate world. This also holds true for the company’s co-sponsoring of professional cycling team Omega Pharma-Lotto, which is active throughout Europe. Philippe Gilbert, one of the racers in the Omega Pharma-Lotto team, has since won a considerable number of important cycling Spring Classics races (2011).

Solar sponsorship for sport

Sport is also an integral part of Enfinity’s culture. Company employees compete annually for the Enfinity Cup – primarily a football competition developed to strengthen team spirit and serve as an enjoyable social event. Traditionally, the Enfinity Cup day always ends with everyone watching a Zulte Waregem game together.

Winner Amstel Gold Race / Liège - Bastogne - Liège / Flèche Wallonne / Flèche Brabançonne - Philippe Gilbert

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Integrated solar systems Enfinity’s three new complete integrated PV systems, offering important architectural benefits, are suitable for the residential and semi-commercial market, and come with a 10 year warranty as standard. All three systems are available in ‘full black’ or standard aluminium.

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Stilstanden en revisies

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Enfinity Belgium / Head OfficeHenri Lebbestraat 188 · B-8790 WaregemPhone: +32 56 28 88 88 · Fax: +32 56 28 88 99info@enfinity.biz · www.enfinity.biz