Media Release: Morgan Solar Enters the High-Growth Indian Solar Energy Market

Hosts Indian Energy Delegation at Toronto Head Office and R&D Facility

TORONTO, Ontario – August 9, 2013 – Morgan Solar Inc., a leading developer of Concentrated Photovoltaic (CPV) and intelligent sun-tracking technologies, is hosting a delegation of key government and commercial representatives from India’s energy sector today at its Toronto facility. The delegation’s aim is to increase technology and knowledge exchange between Canada and India in the area of clean, efficient energy generation and transmission. During the visit, Morgan Solar will showcase its cutting-edge, patented Sun Simba™ CPV module, and the patent-pending Savanna™ dual-axis solar tracker, incorporating one of the most advanced solar power plant monitoring technologies.

The delegation is being led by Dr. Saumitra Chaudhuri, Member of the Government of India’s Planning Commission, and includes representatives from the Ministry of Power and Ministry of Petroleum and Natural Gas, as well as from the Indian Oil corporation, the International Petroleum Company of India, and GAIL India, the country’s largest state-owned natural gas processing and distribution company.

Morgan Solar is gearing up for a strong presence in India, where demand for energy is expected to double by 2025. The company has recently entered into a Memorandum of Understanding with Forbes & Company Limited (BSE: 502865; NSE: FORBESGOKEQ), a subsidiary of the Shapoorji Pallonji Group, to offer the Savanna™ tracker and Sun Simba™ CPV module in India.

“The team of Forbes and Morgan Solar aims at providing clean energy solutions to the people of sun-drenched South Asia and Africa. The strategic partnership is designed to deliver a holistic solution that covers design, product and EPC capabilities built around the MSI technologies, more particularly to begin with the Savanna™ tracker and the Sun Simba™ CPV module. The intention is also to extend Morgan Solar’s manufacturing footprint in the region,” said Ashok Barat, Managing Director and Chief Executive Officer of Forbes & Company Limited.

Forbes and Morgan Solar will be showcasing the Savanna™ tracker and Sun Simba™ CPV module at Intersolar India in Mumbai in November, and Morgan Solar is working with Forbes to establish demonstration sites in the country.

Morgan Solar is also separately in the final planning stages to deploy 25 kW of Savanna™ trackers mounted with Canadian-manufactured solar panels with the Canadian Department of Foreign Affairs, Trade and Development at the High Commission of Canada in New Delhi. The system will be a key part of the sustainability strategy for the High Commission compound, and will serve as a demonstration of innovative Canadian clean technology.

“India is a focus market for Morgan Solar given the country’s high demand for efficient and low cost renewable energy solutions,” said Morgan Solar’s VP of Business Development, Nicolas Morgan. “Morgan Solar’s product development decisions have been made with our most important markets in mind, and it’s not a coincidence that some of our latest market demonstrations sites will be in India.”