AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 141)

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China’s public promotion system for solar energy is a feed-in tariff with government approval of projects.

The government, which comprises the central government and local government sub-divisions as well,

first needs to approve each solar power project. If a project is approved, the government will set an ap-

propriate feed-in tariff, on a project-by-project basis. After a solar power project is approved by the gov-

ernment, the feed-in tariff price for power from that project is determined by the pricing department of the

State Council, based on the principle of reasonable production costs plus reasonable profit.

On 26 December 2009, the Standing Committee of the National People's Congress (NPC) – China’s legis-

lative body – passed an amendment bill revising China's Renewable Energy Law. The revised law came

into effect in April 2010. The revision of the RE Law is mainly aimed at promoting the development of

power grids. This objective is now also stressed in the NPC's work report on this year’s annual session

where the development of a smart power grid is highlighted as one of the government's efforts in the en-

ergy sector. Apart from a new general obligation imposed on grid companies to strengthen the construc-

tion of power grids and to use smart power grid technology to increase the ability to utilise renewable

energy, foremost among the amendments is the creation of a renewable energy quota. In the future, the

energy department of the State Council will determine a minimum quota for the national renewable en-

ergy output and formulate and supervise implementing measures to ensure that all electricity generated

from renewable energy projects is purchased by the grid companies. Under the RE Law of 2006, a devel-

opment fund had been established and financed by the state, under which grants and loans are extended to

renewable energy producers. Under the revised law, in addition to the funds allocated by the state, a re-

newable energy surcharge will be levied on the electricity sold throughout the country to help finance the

development fund.

Shareholder Structure of the Issuer

The following table provides an overview of the shareholding structure and the participation of the share-

holders in the share capital of the Issuer at the date of this Prospectus as far as the Issuer is informed

about shareholdings above 3 % of the total number of its Shares.

Shareholders

Name of shareholder Total no. shares in %

Ripplewood

14,793,696 29.4 %

Deutsche Bank

11,578,260 23.0 %

STAK Germany1 Acquisition Limited

8,250,000 16.4 %

Fidelity International Management 2,437,070 4.9 %

Brock Trust L.L.C.

2,439,886 4.9 %

GLG Partners LP 1,600,000 3.2 %

Others 7,537,112 15.0 %

Total 50,236,024

100 %

Ripplewood comprises the following funds controlled by Timothy Collins: Ripplewood Partners II Parallel Fund LP, Ripple-

wood Partners II Offshore Parallel Fund LP, RP II GP LLC, Ripplewood Partners II GP LP, RP II RHJ Partners LP and RP II

RHJ Co-Investment.

Deutsche Bank comprises the following entities belonging to Deutsche Bank Group: Deutsche Bank AG, DB Equity S.à.r.l.,

and DB PrivateMandat SICAV.

STAK Germany1 Acquisition Limited is a foundation established under Dutch law which administers the shares of the found-

ing shareholder, LCP1 Limited, a company that is controlled by Florian Lahnstein.

Bruce Brock and Robert Huljak are beneficiaries of Brock Trust L.L.C.

As at 30 September 2010, the Issuer held 150,000 treasury shares directly. An additional 3,000,000 shares

were held in escrow with an escrow agent on behalf of the Sellers and other former AEG PS Group

shareholders to cover potential earn-out payment (2,500,000 shares) and tax obligations (500,000 shares)

of the Issuer. Since 30 September 2010 the Issuer has reached agreement with Ripplewood on the tax

obligations under the terms of which the Issuer received 5 shares held in the tax escrow and the remaining

shares held in the tax escrow are distributed to the Sellers.

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