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Energy Conversion Devices and Enfinity Announce Plans to Co-Develop Rooftop Solar Projects In Ontario, Canada

Rochester Hills, Mich., and Sacramento, Calif., November 9, 2009 – Energy Conversion Devices, Inc. (ECD) (NASDAQ: ENER) and Enfinity Corporation today announced plans to collaborate on the development of a portfolio of rooftop solar installations in Ontario, Canada.

ECD and Enfinity will partner to co-develop a series of rooftop solar projects throughout Ontario, Canada under the province’s new feed-in-tariff program. The companies expect to complete construction of approximately 10MW of projects during 2010.

ECD, through its wholly owned subsidiary, United Solar Ovonic, will provide UNI-SOLAR® brand photovoltaic laminates for the projects. ECD will also provide development equity during the construction phase of the project. Enfinity will lead the rooftop acquisition, and will arrange construction debt and take-out equity financing for the project. Upon commercial operation, the project portfolio will be sold to the permanent equity owners.

Mark Morelli, ECD’s president and CEO, said, “We are pleased to announce this expanding partnership with Enfinity, with the collaboration on this Ontario portfolio. Since announcing the Framework Agreement with Enfinity earlier this year, thus far we have partnered on nearly 6MW of projects in Belgium and France that are being supplied by our roofing materials channel partners.

This co-development approach in Ontario is a further example of our demand-creation strategy, where we will partner on solar projects that have attractive rates of return for project investors. The Ontario Power Authority has demonstrated an impressive commitment to the promotion of renewable energy development and ECD intends to be a major player in the province in the years to come.”

Rafael Dobrzynski, Head of Enfinity’s Americas stated, “We consider ECD to be one of our key global partners, and together are moving quickly on this co-development effort. The feed-in-tariff structure in Ontario rewards investors with higher incentives for distributed rooftop solar, and the light-weight, high performance UNI-SOLAR laminates are ideal for solar rooftop installations there.”