October 14, 2013

Press Release No. 1

Clarification by Indosolar Limited

Significant price movement has been observed in Indosolar Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Indosolar Limited has vide its letter inter-alia stated, "The Ministry of New and Renewable Energy, Govt. of India has issued draft guidelines, for selection of 750 MW grid connected solar power project under batch-I of the phase-II. As per the said guidelines, the Govt. has decided that under batch-I of phase-II, the Govt. will incentivize 750 MV of solar power projects by way of viability gap funding which can go upto 30% of project cost. Further, 375 MW capacity will be kept for bidding under "DCR" category which means that 375 MW will be compulsorily sourced from domestic manufacturers, thereby giving boost in demand for Indian solar cell and module manufacturers. Above seems to be the reason for upward movement of the share price of company".