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(Incorporated in Bermuda with limited liability)

(Stock Code: 566) VOLUNTARY ANNOUNCEMENT

Reference is made to (i) the announcement of the Company dated 7 October 2013 in relation to the achievement of 18.7% conversion efficiency with Solibro's CIGS thin film solar technology; and (ii) the announcement of the Company dated 16 December 2013 in relation to the achievement of 19.6% conversion efficiency with Solibro's CIGS thin film solar technology (together as the "Announcements"). Unless the context requires otherwise, capitalised terms used herein shall bear the same meanings as defined in the Announcements.
Further to the disclosure in the Announcements, the Group is pleased to announce that Solibro has taken a further step and has achieved 20.5% conversion efficiency for its CIGS thin film solar cells of 1.0cm2. This achievement has been tested and verified by National Renewable Energy Laboratory ("NREL"), which is the United States' primary laboratory for renewable energy and energy efficiency research and development. According to the latest published Progress in Photovoltaics: Research and Applications, the highest confirmed conversion efficiency of CIGS cells as published therein was 19.8%. The conversion efficiency of 20.5% for CIGS solar cells by Solibro is higher than that published conversion efficiency. This further improvement in conversion efficiency demonstrates the commercial potentials and the Group is dedicated to take further research and development in order to lead the industry in conversion efficiency.
By order of the Board

Hanergy Solar Group Limited Frank Mingfang Dai

Chairman and Chief Executive Officer

Hong Kong, 3 April 2014

As at the date of this announcement, the executive directors of the Company 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 of the Company are Ms. Zhao Lan, Mr. Wong Wing Ho and Mr. Wang Tongbo.

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