Nur Energie's Solar Export Project From Tunisia to Europe Achieves Major Milestone

LONDON, May 31, 2011 -

Solar project developer Nur Energie Ltd. today announced the acceptance
of the technical terms for the connection of its "TuNur" utility-scale solar
export project from Tunisia into the Italian power network. Under the terms
of the offer, Terna, the Italian high-voltage transmission network operator,
has specified a preliminary technical solution to connect up to 2000 MW of
solar power produced in the Tunisian desert to the Italian network, with grid
infrastructure sufficient to transport electricity to neighbour European
countries.

Kevin Sara, Managing Director of Nur Energie, commented: "This is an
excellent basis for further advancing our discussions with European
electricity consumers and electric utilities for the purchase of solar
electricity from North Africa. With Germany and Switzerland accelerating
their phase-out of nuclear power, stable and predictable power supplies from
solar power plants in Tunisia offer a significant and real alternative to
fill this void in a time horizon until 2020, and at costs that are already
competitive with offshore wind."

Based on Terna's offer, Nur Energie will now accelerate planning for the
cable interconnection across the Mediterranean, which involves laying a
sub-marine high-voltage direct-current (HVDC) power cable to transport the
electricity from Tunisia directly to European markets.

Dr. Till Stenzel, Chief Operating Officer of Nur Energie, furthermore
pointed out: "The recent G8 summit highlighted the commitment of the
world's largest economies to support the emerging democracies in North
Africa. TuNur is a concrete investment project that will help Tunisia
to diversify its economy, bringing significant inward investment to create
jobs in the country."

Nur Energie is an independent solar power plant developer in the
Mediterranean region. Since 2008, it has focused on projects using CSP, PV
and CPV technology in Europe, as well as North Africa. Its first project is a
38MW CSP project on the island of Crete in Greece, and it is furthermore
active in Tunisia and Morocco. Please visit www.nurenergie.com for
more information.

For information about Nur Energie, please contact Daniel Rich
on +44-203-102-5357.

TuNur is a solar power project in Tunisia's Southern region, capable of
producing large volumes of stable and predictable solar electricity. Nur
Energie has been developing TuNur since 2008. It will utilise concentrating
solar power (CSP) technology. CSP technology uses mirrors to focus sunlight
in order to generate heat, which can then be used to directly generate
electricity, or stored so that it can be utilised after sunset or during
periods of cloudy weather to extend electricity production.

    Nur Energie Ltd
    Centre Point
    103 New Oxford Street
    London, WC1A 1DD
    United Kingdom
    F: +44(0)203-102-5357

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