Bosch Solar Energy enters partnership with Allianz Climate Solutions New power stations to be built worldwide

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· Planning, construction, and financing expertise

· Partners bring an international network to the table

Erfurt/Munich – Bosch Solar Energy AG and Allianz Climate Solutions GmbH have entered into a partnership for the planning, financing, and turnkey construction of photovoltaic power stations. The companies have signed a cooperation agreement to this end. The large-scale systems set to be built will have an output of at least one megawatt. A power station of this size can provide energy for some 250 four-person households each year. “Together, Bosch and Allianz have the international networks required to push photovoltaics ahead around the world,“ said Peter Schneidewind, Executive Vice President Sales at Bosch Solar Energy AG. “In the long term, we want to make photovoltaics a competitive technology in the energy mix and contribute to protecting the climate, even without subsidies,” said Armin Sandhövel, CEO of Allianz Climate Solutions.

Allianz Climate Solutions advises investors on photovoltaics projects worldwide. Allianz SE, its parent company, expects to invest some 500 million euros in this sector by 2012. As a full provider of photovoltaic technologies, Bosch Solar Energy contributes its expertise in the production of high-end solar cells and modules to the partnership. Moreover, the Bosch subsidiary will assume responsibility for the technical side of operations, from planning to turnkey construction of the large-scale systems. Experts at Allianz Climate Solutions have extensive experience in financing and risk assessment for such projects. With the Allianz Zentrum für Technik, both partners have access to a global network of engineers as well as testing facilities and certification bodies. As a result, malfunctions or damage to the systems can be identified quickly and solutions initiated. Moreover, the data and experience gathered around the world contribute to the further development of photovoltaics.

New business segment already very successful
Bosch Solar Energy AG’s PV Projects business segment kicked off its activities this year, and is already involved in the construction of four solar power systems. One of them is the 955 kWp system on the roof of the Bosch car park adjacent to Stuttgart’s airport and trade fair center. Other solar power stations are currently being installed in Erfurt, Fraureuth, and Ronneburg, Germany.

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 280,000 associates generated sales of 45.1 billion euros in fiscal 2008. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3.5 billion euros, or eight percent of its sales revenue, for research and development, and applies for over 3,000 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information can be accessed at www.bosch.com.

Allianz Climate Solutions (ACS) is a subsidiary of Allianz SE and advises external customers as well as Allianz Group companies on issues concerning renewable energy, clean technology and the carbon market. ACS has many years of experience in renewable energies and provides customers with access to innovative insurance products, financing options and project procurement services as well as detailed market and technology assessments. The Allianz Group has an extensive global network and outstanding competencies, which are combined with the expertise of Allianz Climate Solutions (ACS) – creating synergies which benefit our customers and partners.

Allianz is one of the world’s leading insurers and financial services providers and one of the first Societas Europeae. Founded in 1890, Allianz SE is now present in more than 70 countries with over 150,000 employees. Allianz provides its about 75 million customers worldwide with a comprehensive range of services in the areas of property and casualty insurance, life and health insurance, and asset management. Allianz SE is member of Transparency International Germany and supports the Principles of the United Nations Global Compact and the OECD Guidelines for Multinationals through its Code of Conduct. Allianz SE is one of the leaders of the insurance sector in the Dow Jones Sustainability Index, listed in FTSE4GOOD and in the Carbon Disclosure Leadership Index (Carbon Disclosure Project, CDP6).

Additional information may be found at www.allianz.com/news and www.knowledge.allianz.com

This information is available for download here:

→http://www.bosch-presse.de/TBWebDB/en-US/PressText.cfm?id=4459

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