EANS-News: PI Power International Limited / PI Power International announces the sale of its two operating photovoltaic solar projects in Spain

PI Power International announced today that it has sold its two
operating photovoltaic solar projects in Spain, Almeria and Solon, to
companies controlled by Mr. Konstantin Strasser

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Strategic management decisions

Utl.: PI Power International announced today that it has sold its two
operating photovoltaic solar projects in Spain, Almeria and Solon, to
companies controlled by Mr. Konstantin Strasser =

St Helier, Jersey, Channel Islands (euro adhoc) - Jersey/Vienna,
October 2, 2009 - Following intensive negotiations with several
bidders participating in the auction process to sell PI Power
International´s assets over the last several months the Board of PI
Power International completed the sale of the Company´s two Spanish
photovoltaic solar projects yesterday, known as Almeria and Solon,
for EUR 87.5m to companies controlled by Mr. Konstantin Strasser. Mr.
Strasser was the developer of the Almeria photovoltaic solar
projects.

The two photovoltaic solar projects sold are both operating and
constitute the vast majority of PI Power International´s non-cash
assets with a capacity of around 30 MW.

This transaction marks an important milestone for PI Power
International´s target to dispose of all of its assets and distribute
the remaining cash to its certificate holders.

The sales process for the remaining assets will continue with a
number of potential buyers.

Further information on PI Power International is available at:
www.powerinternational.eu

Ende der Mitteilung euro adhoc
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ots Originaltext: PI Power International Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations and Public Relations

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Mick Stempel

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Michaela Lipa

T: +43 1 504 69 87-341

M: m.lipa@hochegger.com

Branche: Energy
ISIN: AT0000A05W59
WKN:
Index: other listings
Börsen: Wien / Third Market