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HANERGY SOLAR GROUP LIMITED

(incorporated in Bermuda with limited liability) (Stock Code: 566)

VOLUNTARY ANNOUNCEMENT FURTHER NEGOTIATION OF THE ACQUISITION OF SOLAR POWER PLANTS IN PORTUGAL

Reference is made to the announcement of Hanergy Solar Group Limited (the "Company") dated 12
March 2013 ("Announcement"), in relation to the letter of intent ("LOI") entered into by Hanergy Global Solar Power Group (Europe) B.V. ("Hanergy Europe"). Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the Announcement.
As disclosed in the Announcement of the Company dated 12 March 2013, pursuant to the LOI dated
12 March 2013, Hanergy Europe and the Seller intended to enter into further negotiations for the purpose of concluding the Agreement(s) on the purchase by Hanergy Europe from the Seller, directly or indirectly, the Target Company. Each party will negotiate in good faith and exclusively with the other party in respect of the projects owned by the Target Company during the exclusivity period, which shall commence from the date of signature of the LOI and shall expire on the first of (i) signature of the Agreement(s) or (ii) 20 March 2013.
As additional time is required for the parties to further negotiate the legal terms of the Agreement(s), the Agreement(s) cannot be concluded on or before 20 March 2013 as stipulated in the LOI. The Seller is willing to continue negotiations with Hanergy Europe and both parties are now actively working together to conclude the Agreement(s). The Company will make further announcement(s) in such regard in accordance with the requirements under the Listing Rules.
By order of the Board

Hanergy Solar Group Limited Frank Mingfang Dai

Chairman and Chief Executive Officer

Hong Kong, 20 March 2013

As at the date of this announcement, the executive Directors are Mr. Frank Mingfang Dai (Chairman and Chief Executive Officer), Dr. Li Yuan-min (Deputy Chairman and Chief Technology Officer), Mr. Hui Ka Wah, Ronnie J.P. (Finance Director and Senior Vice-President), Mr. Chen Li and Mr. Li Guangmin; and the independent non-executive Directors are Ms. Zhao Lan, Mr. Wong Wing Ho and Mr. Wang Tongbo.

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