Acquisition of 80% of the shares of 4 Brazilian projects Power and Energy

Nebras Energy Investment Management BV signed a binding agreement to acquire an 80% stake in four solar PV projects in Brazil from Candian Solar, the world leader in solar photovoltaic power plants.

The acquisition allows Nebras access to Brazil's rapidly growing renewable energy market and is in line with Nebras' stated goal of establishing itself as a leading international energy developer. "Our acquisition by the Dutch company of a controlling stake in solar panels with dual panel technology is a milestone in the implementation of the vision we have developed for Nebras," said Fahad bin Hamad Al Mohannadi, Chairman of Nebras Energy.

Since the establishment of Nebras, Nebras has been working to enhance its global expansion through successful and reputable partners. This process is an important step in a prime market like Brazil, adding that this deal not only confirms this vision, but also enhances the Nebras Global to bring more geographic and technical diversity to its investment portfolio.

Eng. Khalid Mohamed Al Jolo, Chief Executive Officer of Nebras, said: "The new acquisition reinforces Nebras' solar energy capabilities in the Netherlands and our leading PV location in Jordan. "The first of these projects will be launched in May and will be completed in September and will be operational in January 2010