Document:

ASSIGNMENT
      AND ASSUMPTION AGREEMENT

    OF
      JOINT
      VENTURE CONTRACT

    

    by
      and
      among

    

    RENEWABLE
      ENERGY SYSTEMS, INC. 

    as
      Assignor,

    

    and

    

    SOLAR
      THIN FILMS, INC.

    as
      Assignee

    

    

     

    

    

    

    Dated
      as
      of January 31, 2008

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ASSIGNMENT
      AND ASSUMPTION AGREEMENT

    

    OF
      JOINT
      VENTURE CONTRACT

    

    

    This
      ASSIGNMENT AND ASSUMPTION AGREEMENT OF JOINT VENTURE CONTRACT (the “Agreement”)
      is made as of January 31, 2008 (“Execution Date”) by and among the following
      parties:

    

    Renewable
      Energy Systems, Inc., a company incorporated under the laws of New Jersey,
      U.S.A., with its principal place of business at 200 Ludlow Drive, Suite C,
      Ewing, NJ 08638 (“Assignor”); and

    

    Solar
      Thin Films, Inc., a company incorporated under the laws of the State of
      Delaware, U.S.A., with its principal place of business at 25 Highland Blvd.,
      Dix
      Hills 11746 (“Assignee”); and

    

    All
      the
      above Parties hereinafter singly referred to as “Party” and collectively
      referred to as “all Parties” or “the Parties”.

    

    WHEREAS:

    

    A. Certain
      Joint Venture Contract dated January 10, 2005 was made by and among TerraSolar,
      Inc., a company incorporated under the laws of the State of Delaware, U.S.A.,
      Weihai Blue Star Glass Group Co., Ltd., a company organized under the laws
      of
      the People’s Republic of China (“PRC”) with its registered address at 98 QingDao
      ZhongLu, Weihai Economic and Teclmology Development Zone, Weihai, Shandong,
      PRC
      (“Blue Star”) and Camsete Resources Limited., a company incorporated under the
      laws of the British Virgin Islands (“Cameste”) (the “JV Contract”);

    

    B. Pursuant
      to the Weihai Blue Star Terra Photovoltaic Co., Ltd., a Sino-foreign joint
      venture company organized under the laws of the PRC with its registered address
      at 98 QingDao ZhongLu, Weihai Economic and Technology Development Zone, Weihai,
      Shandong, PRC (“Blue Star JV”), has been established and is validly existing
      under the laws of the PRC; 

    

    C. A
      certain
      Assignment and Assumption of the Blue Star Agreements dated April 21, 2005
      was
      entered into between TerraSolar, Inc., and Terra Solar Global, Inc., a company
      incorporated under the laws of the State of Delaware, U.S.A., with its principal
      place of business at 45 Rockefeller Plaza, Ste 200092, New York, the State
      of
      New York (“Terra”), pursuant to which TerraSolar, Inc. conveyed, assigned and
      transferred and delivered to Terra all of its right, title and interest in
      and
      to the JV Contract, and Terra accepted the conveyance, assignment and transfer
      (the “Terra Assignment”);

    

    D. Pursuant
      to JV Contract and the Terra Assignment, Terra was required to make capital
      contribution in the sum of two million US Dollars (US$ 2,000,000.00) in Blue
      Star JV, representing 20% of total investment;

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    E. Terra
      has
      made one million US Dollar (US$1,000,000.00) capital contributions in Blue
      Star
      JV and owns ten percent (10%) shareholding interest in Blue Star
      JV;

    

    F. A
      certain
      Assignment and Assumption of the Blue Star Agreements dated April 27, 2007
      was
      entered into between Terra and Assignor, pursuant to which Terra conveyed,
      assigned and transferred and delivered to Assignor its right, title and interest
      in and to Blue Star JV Contract insofaras concerning Terra’s outstanding balance
      of capital contribution in the sum of one million US Dollars (US$1,000,000.00),
      representing ten percent (10%) shareholding interest in Blue Star JV, and
      Assignor accepted the conveyance, assignment and transfer (the “RESI
      Assignment”).

    

    G. Pursuant
      to the RESI Assignment, Assignor was required to make capital contribution
      in
      the sum of one million US Dollars (US$ 1,000,000.00) in Blue Star JV,
      representing 10% of total investment made; 

    

    H. Assignor
      has made a five hundred thousand US Dollar (US$500,000.00) capital contribution
      in Blue Star JV and owns five percent (5%) shareholding interest in Blue Star
      JV;

    

    I. Assignee
      desires to accept from Assignor, and Assignor desires to convey, assign,
      transfer and deliver to Assignee its duties, obligations, rights, title and
      interest in and to its outstanding balance of capital contribution in the sum
      of
      five hundred thousand US Dollars (US$500,000.00), representing five percent
      (5%)
      shareholding interest in Blue Star JV (the “Assignment”).

    

    NOW,
      THEREFORE, in consideration of the foregoing premises, the Parties hereto hereby
      agree as follows through friendly consultation in accordance with relevant
      laws
      and regulations and in the spirit of mutual benefit, honesty and good
      faith:

    

    
      	I.	
              Acknowledgement
                and Agreement
                to Assignment

            

    

    

    
      	
              1.

            	
              The
                Assignee shall become a party to the JV Contract, having all rights
                and
                obligations in respect of the assigned capital contribution and five
                percent (5%) equity interest transferred thereunder, and that the
                Assignor
                shall not have any right, obligation or responsibility in respect
                of the
                assigned capital contribution and equity interest transferred thereunder.
                Assignee hereby agrees to make the capital contribution of five hundred
                thousand US Dollars (US$500,000.00) by February 15,
                2008.

            

    

    

    
      	II.	
              Effectiveness
                of this
                Agreement

            

    

    

    
      	1.	
              This
                Agreement shall be effective upon execution by the Parties hereto
                or their
                respective authorized representatives and affixture of
                seals.

            

    

    

    
      	2.	
              The
                Parties hereto shall, in good faith, complete any activities necessary
                for
                effecting the Assignment provided hereunder within three months after
                the
                execution of this Agreement, including without limitation executing
                or
                causing any document or application, or to secure any relevant approval,
                consent or permit, so as to effect the performance of this
                Agreement.

            

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	III.	
              Representations.
                Covenants and Warranties

            

    

    

    Each
      and
      every party to this Agreement hereby represents and warrants to the other
      parties that it:

    

    
      	 	
              (a)

            	
              is
                a corporation duty organized, validly existing and in good standing
                under
                the laws of the jurisdiction of its
                formation;

            

    

    
      	 	
              (b)

            	
              has
                the corporate power and authority to enter into this
                Agreement;

            

    

    
      	 	
              (c)

            	
              has
                the requisite corporate power and authority to execute, deliver and
                perform this Agreement and the other agreements contemplated hereby
                to
                which it is a party and to incur the obligations herein and therein;
                and

            

    

    
      	 	
              (d)

            	
              has
                been authorized by all necessary corporate action to execute, deliver
                and
                perform this Agreement and other related agreements and to consummate
                the
                transactions contemplated hereby and
                thereby.

            

    

    

    
      	IV.	
              Confidentiality

            

    

    

    Unless
      expressly agreed to by the Parties, or required by relevant laws, regulations,
      articles of association, or other applicable laws and regulations, no Party
      shall disclose the terms of this Agreement to any third party other than the
      Parties hereto and their respective affiliates, subsidiaries, parents or other
      associated companies without the prior written consent of the other Parties
      before completion of the transactions contemplated hereunder. This provision
      does not apply to affiliates of, and professionals engaged by, the Parties
      hereto.

    

    
      	
              V.

            	
              Amendment
                to this Agreement

            

    

    

    Any
      amendment to this Agreement shall be in writing and signed by all the Parties.
      Any amendment or addition shall constitute an integral part of this
      Agreement.

    

    
      	VI.	
              Applicable
                Laws

            

    

    

    The
      execution, validity, interpretation and performance of this Agreement, and
      dispute resolution thereof shall be governed by the substantive laws of the
      State of New York, excluding its conflict of laws rules.

    

    
      	VII.	
              Assignment
                Right

            

    

    

    No
      Party
      shall assign its rights and obligations under this Agreement without prior
      written consent of the other Parties. The respective successors and permitted
      assigns of the Parties hereto are subject to the provisions of this
      Agreement.

    

    
      	VIII.	
              Entire
                Agreement

            

    

    

    This
      Agreement constitutes all representations and agreements among the Parties
      hereto and supersedes all prior oral and written representations, warranties,
      understandings and agreements among the Parties relating to the subject matter
      of this Agreement. The Parties hereto agree and acknowledge that any
      representation or covenant that is not stated or made under this Agreement
      shall
      not be used as the basis for determining the respective rights and obligations
      of the Parties or for interpreting the terms and conditions of this
      Agreement.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    
      	IX.	
              Notices

            

    

    

    All
      notices required under this Agreement shall be delivered by overnight courier,
      registered mail, telecopy or other telecommunication means. Notices shall be
      deemed duly given upon arrival at the address of the recipient set forth below
      or at such other address as the recipient thereof shall have notified the other
      Parties hereto. When delivered by courier, registered mail, the notice shall
      be
      deemed to be duly given on the day of receipt noted on the confirmation of
      delivery or return receipt. When delivered by telecopy, the notice shall be
      deemed to be duly given when the delivery is confirmed by telecopy
      machine.

    

    

    
      	
              Assignor:

            	
              Renewable
                Energy Systems, Inc.

            
	 	
              200
                Ludlow Drive, Suite C

            
	 	
              Ewing,
                NJ 08638

            
	
               

            	
              
                Attn:
                  Zoltan Kiss, President

              

            
	 	 
	
              Assignee:

            	
              Solar
                Thin Films, Inc.

            
	 	
              25
                Highland Blvd.

            
	 	
              Dix
                Hills, NY 11746

            
	 	
              Attn:
                Peter Lewis, CEO

            

    

    

    

    
      	
              X.

            	
              Counterparts

            

    

    

    This
      Agreement is made in eight original copies. Each Party shall hold one original
      copy and the remaining copies shall be used for the purpose of seek approval
      by
      relevant authorities. Each copy shall have the same legal effect.

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Parties hereto have caused this Assignment and Assumption
      of Joint Venture Contract to be executed on the date first written
      above.

    

    
      	
              Renewable
                Energy Systems, Inc.

            	
              Solar
                Thin Films, Inc.

            
	 	 
	
              By:
                /s/ Zoltan Kiss

            	
              By:
                /s/ Robert M. Rubin

            
	
              Name:
                Zoltan Kiss

            	
              Name:

            
	
              Title:
                CEO

            	
              Title:

            

    

     

     

    
      
         

      

      
        6AGREEMENT
      FOR THE SALE AND PURCHASE OF EQUITY INTEREST

    

    

    IN

    

    WEIHAI
      BLUE STAR TERRA PHOTOVOTAIC CO. LTD.

    

    

    Between

    

    TERRA
      SOLAR GLOBAL, INC. (“TRANSFEROR”)

    

    and

    

    SOLAR
      THIN FILMS, INC. (“TRANSFEREE”)

     

    

    

    

    

    Dated
      as
      of January 31, 2008

      
        

      

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    AGREEMENT
      FOR THE SALE AND PURCHASE OF EQUITY INTEREST

    

    

    IN

    

    WEIHAI
      BLUE STAR TERRA PHOTOVOTAIC CO. LTD.

    

    

    Between

    

    TERRA
      SOLAR GLOBAL, INC. (“TRANSFEROR”)

    

    and

    

    SOLAR
      THIN FILMS, INC. (“TRANSFEREE”)

     

    

     

    This
      Agreement for the Sale and Purchase of Equity Interest (together with all
      exhibits and schedules hereto, this “Agreement”) dated as of this 31st
      day of
      January, 2008, is made by and between the following parties:

     

    
      	
              (1)

            	
              Terra
                Solar Global, Inc., a company incorporated under the laws of the
                State of
                Delaware, U.S.A., with its principal place of business at 45 Rockefeller
                Plaza, Ste 200092, New York, the State of New York (“Transferor”),
                and 

            

    

    

    
      	
              (2)

            	
              Solar
                Thin Films, Inc., a company organized and existing under the laws
                of the
                Delaware, with its principal place of business at 25 Highland Boulevard,
                Dix Hills, New York 11746 (“Transferee”).

            

    

    

     

    WHEREAS:
      

     

    
      	
              (A)

            	
              Weihai
                Blue Star Terra Photovoltaic Co., Ltd. (the “Company”),
                a Sino-foreign joint venture company organized under the laws of
                the PRC
                whose registered address is at 98 QingDao ZhongLu, Weihai Economic
                and
                Technology Development Zone, Weihai, Shandong, PRC, with registered
                capital of ten million US Dollars (US $10,000,000), is engaged in
                the
                business of the production and sale of a-Si thin-film photovoltaic
                modules. 

            

    

    

    
      	
              (B)
                

            	
              Transferor
                is the owner of a ten percent (10%) equity interest in the registered
                capital of the Company.

            

    

    

    
      	
              (C)

            	
              The
                Transferee wishes to purchase, and the Transferor wish to sell, the
                ten
                percent (10%) equity interest in the registered capital of the Company
                (the “Sale
                Equity”).

            

    

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    NOW,
      THEREFORE, in consideration of the premises and the mutual agreements and
      covenants hereinafter set forth, the Transferee and the Transferor hereby agree
      as follows:

    

    ARTICLE
      1

    PURCHASE
      AND SALE

    

    
      	
              1.1

            	 	
              Purchase
                and Sale of the Sale Equity.
                Upon the terms and subject to the conditions of this Agreement, Transferee
                shall purchase from Transferor, and Transferor shall sell to the
                Transferee, of the Sale Equity (the “Transaction”)
                which shall represent TEN PERCENT (10%) of the total equity of the
                Company, free from all charges, liens, encumbrances and other third
                party
                claims and interests and together with all rights now or hereafter
                attached to them, including any and all rights and benefits arising
                from
                or associated with such equity interests.

            

    

     

    
      	
              1.2

            	
               

            	
              Consideration.
                As
                a consideration for the Sale Equity, Transferor shall be entitled
                to
                receive, subject to the provisions of this Agreement, a sum of ONE
                MILLION
                U.S. DOLLARS (U.S. $1,000,000) (the “Consideration”).
                Transferee shall effect such payment by wire transfer to the Transferor
                in
                accordance with the wire instructions attached hereto as Exhibit
                A.
                

            

    

     

    
      	
              1.3

            	
               

            	
              Closing.
                The closing of the transactions contemplated by this Agreement (the
                “Closing”) shall take place upon on or before January 31, 2008 or at such
                place, date and time as the parties hereto may otherwise agree in
                writing
                subject to satisfaction of all Conditions to Closing as specified
                in
                Article 5. At the closing, Transferee shall pay to Transferor by
                cashier’s
                or certified check or wire transfer the Consideration in
                cash.

            

    

    

    ARTICLE
      2

    REPRESENTATIONS
      AND WARRANTIES OF THE TRANSFEREE

    

    Transferee
      hereby represents and warrants to the Transferor as follows, and each of which
      is true as of the date hereof and shall be true as of the Closing Date with
      the
      same effect as if said representations and warranties had been made at and
      as of
      the Closing Date. 

     

    
      	
              2.1

            	
              Existence.
                Transferee is a company duly organized, validly existing and in good
                standing under the laws of the State of
                Delaware.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              2.2

            	
              Authorization.
                Transferee has full corporate power and authority to enter into this
                Agreement and to carry out the transactions contemplated hereby.
                This
                Agreement has been duly executed and delivered and is a valid and
                binding
                agreement of Transferee, enforceable in accordance with its terms
                except
                as (i) such enforcement may be subject to bankruptcy, insolvency,
                reorganization, moratorium or other similar laws now or hereafter
                in
                effect relating to creditors’ rights and (ii) the remedy of specific
                performance and injunctive and other forms of equitable relief may
                be
                subject to equitable defenses and to the discretion of the court
                before
                which any proceeding therefore may be
                brought.

            

    

     

    
      	2.3	
              No
                Violation.
                Neither the execution and delivery of this Agreement nor the consummation
                of the transactions contemplated hereby will violate any provisions
                of the
                articles and memorandum of association of Transferee or be in conflict
                with, or constitute a default (or an event which, with notice or
                lapse of
                time or both, would constitute a default) under, or result in the
                termination of, or accelerate the performance required by, or cause
                the
                acceleration of the maturity of any debt or obligation pursuant to,
                or
                result in the creation or imposition of any Encumbrance upon any
                property
                or assets of Transferee, under any agreement or commitment to which
                Transferee is a party or by which Transferee is bound, or violate
                any
                statute or law or any judgment, decree, order, regulation or rule
                of any
                court or governmental authority.

            

    

     

    
      	
              2.4

            	
              Brokers.
                All negotiations relative to the Agreement and the transactions
                contemplated hereby have been carried out by Transferee directly
                with
                Transferor without the intervention of any person on behalf of Transferee
                in such a manner as to give rise to any valid claim by any person
                against
                Transferor for a finder’s fee, brokerage commission or similar
                payment.

            

    

    

    ARTICLE
      3

    REPRESENTATIONS
      AND WARRANTIES OF THE TRANSFEROR

     

    Transferor
      hereby represents and warrants to Transferee as set forth below, and each of
      which is true as of the date hereof and shall be true as of the Closing Date
      with the same effect as if said representations and warranties had been made
      at
      and as of the Closing:

     

    
      	
              3.1
                

            	
              Existence.
                Transferor is a corporation duly organized, validly existing and
                in good
                standing under the laws of the State of Delaware.
                

            

    

     

    
      	3.2	
              Authorization. 
                Transferor has full corporate power and authority to enter into this
                Agreement and to carry out the transactions contemplated hereby.
                This
                Agreement has been duly executed and delivered and is a valid and
                binding
                agreement of Transferor, enforceable in accordance with its terms
                except
                as (i) such enforcement may be subject to bankruptcy, insolvency,
                reorganization, moratorium or other similar laws now or hereafter
                in
                effect relating to creditors’ rights and (ii) the remedy of specific
                performance and injunctive and other forms of equitable relief may
                be
                subject to equitable defenses and to the discretion of the court
                before
                which any proceeding therefore may be
                brought.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              3.3
                

            	
              No
                Violation.
                Neither the execution and delivery of this Agreement nor the consummation
                of the transactions contemplated hereby will violate any provisions
                of the
                articles and memorandum of association of Transferor or be in conflict
                with, or constitute a default (or an event which, with notice or
                lapse of
                time or both, would constitute a default) under, or result in the
                termination of, or accelerate the performance required by, or cause
                the
                acceleration of the maturity of any debt or obligation pursuant to,
                or
                result in the creation or imposition of any encumbrance upon the
                Sale
                Equity, under any agreement or commitment to which Transferor is
                a party
                or by which Transferor is bound, or violate any statute or law or
                any
                judgment, decree, order, regulation or rule of any court or governmental
                authority.

            

    

     

    
      	
              3.4

            	
              Compliance
                with Law.
                Transferor has complied and is in compliance with all federal and
                state
                law, regulations and orders applicable to the ownership and sale
                of the
                Sale Equity by Transferor (collectively, “Legal Requirements”) and has not
                received any notice asserting or alleging any
                noncompliance.

            

    

     

    
      	
              3.5

            	
              Contracts
                and Agreements.
                Transferor is not in default under any promissory note, indenture,
                evidence of indebtedness, security therefore, contract, lease, commitment,
                undertaking or other instrument whatsoever to which Transferor is
                a party
                or by which the Sale Equity is
                bound.

            

    

     

    
      	3.6	
              No
                Litigation.
                

            

    

     

    
      	 	
              (a)
                

            	
              There
                is no claim, suit, litigation, arbitral action, inquiry, proceeding,
                or
                investigation by or before any court or governmental or other legal
                or
                administrative agency or commission pending or threatened or anticipated
                against, or involving, relating to, against or affecting the Sale
                Equity.

            

    

     

    
      	 	
              (b)
                

            	
              Transferor
                has not received any notice of any such claim, action, litigation,
                proceeding or investigation.

            

    

     

    
      	 	
              (c)

            	
              To
                the best knowledge of Transferor, there is no reasonable basis for
                any
                future claims, actions, litigations, proceedings or investigations
                against
                the Transferor in connection with the Sale
                Equity.

            

    

     

    
      	3.7	
              Title
                to Sale Equity.

            

    

     

    
      	
            	(a)	
              Transferor
                holds and owns beneficially all of the Sale Equity free and clear
                of any
                lien, security interest, pledge or encumbrance.

            

    

     

    
      	 	
              (b)

            	
              Transferor
                has not made any commitment or legal obligation, absolute or contingent,
                to any person other than Transferee to sell, assign, transfer or
                effect a
                sale of the Sale Equity, or to enter into any arrangement or cause
                the
                entering into of an arrangement with respect
                thereto.

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
              3.8

            	
              Not
                Subject to Options.
                Sale
                Equity is not subject to any option(s), warrant(s), voting trusts,
                outstanding proxies, registration rights agreement(s), or other agreements
                regarding voting rights.

            

    

     

    
      	
              3.9

            	
              Brokers.
                All negotiations relative to the Agreement and the transactions
                contemplated hereby have been carried out by Transferor directly
                with
                Transferee without the intervention of any person on behalf of Transferor
                in such a manner as to give rise to any valid claim by any person
                against
                Transferee for a finder’s fee, brokerage commission or similar
                payment.

            

    

     

    
      	
              3.10

            	
              Disclosure.
                No
                representation, warranty or statement made by Transferor in this
                Agreement
                or in the schedules or exhibits attached hereto furnished
                by or on behalf of Transferor contain any untrue statement of a material
                fact or omits to state a material fact necessary to make the statements
                contained herein or therein, in light of the circumstances in which
                they
                were made, not misleading.

            

    

     

    
      
        ARTICLE
          4

      

    

    PARTIES’
      CONDUCT PENDING CLOSING

    

    
      	
              4.1

            	
              Best
                Efforts.
                Subject to the terms and conditions of this Agreement, Transferee
                and
                Transferor shall use their respective best efforts to take, or cause
                to be
                taken, all actions and to do, or cause to be done, all things necessary
                under applicable law to consummate the Transaction contemplated by
                this
                Agreement. 

            

    

    

    
      	4.2	
              Regular
                Course of Business.
                 From
                the date hereof to the Closing Date, and except as otherwise expressly
                consented to or approved by Transferee in writing, Transferor shall
                take,
                or refrain from taking, as the case may be, the following actions
                or cause
                the following to occur (or prevent the following from occurring,
                as the
                case may be): 

            

    

    

    
      	 	
              (a)

            	
              Preserve
                intact the Sale Equity, perform all of its obligations relating to
                the
                Sale Equity, and not enter into, extend, modify, terminate or renew
                any of
                agreements relating to the Sale
                Equity;

            

    

     

    
      	
            	(b)	
              Not
                permit or allow the Sale Equity to be subjected to any
                encumbrance; 

            

      	 	 	 

      	 	(c)	Not engage in any transaction or activity,
              or
              enter into any agreement or make any commitment or take any action,
              inconsistent with, or which would adversely affect its ability to perform
              any of its obligations under, this Agreement or the other Transferor
              Documents; 

      	 	 	 

      	 	(d)	Not take nor omit to take nor permit
              to be
              taken any act or omission to act which may cause a breach of any material
              contract or commitment of Transferor affecting the Sale Equity, or
              which
              may cause the breach of any representation, warranty, or covenant made
              hereunder; and

      	 	 	 

      	 	(e)	Not agree, whether in writing or otherwise,
              to
              take any action prohibited by this
              Section.

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              4.3

            	
              Notices
                of Certain Events.
                As soon as practicable upon the occurrence thereof, or as soon as
                reasonably practicable after becoming aware thereof, Transferor shall
                give
                notice to Transferee of: 

            

    

     

    
      	 	
              (a)

            	
              any
                claim, suit, litigation, arbitral action, inquiry, proceeding or
                investigation commenced or threatened against, involving, relating
                to, or
                affecting the Sale Equity; and

            

    

     

    
      	 	
              (c)

            	
              any
                material inaccuracy (or any event which, if it had occurred prior
                to the
                date hereof, would have caused a material inaccuracy) in any
                representation or warranty made in this Agreement by
                Transferor.

            

    

     

    
      	
              4.4
                

            	
              Public
                Announcement.
                No party herein shall make any press release or other public announcement
                with respect to this Agreement or the transaction contemplated hereby
                without written approval of the other party provided however Transferee
                is
                permitted to file a Form 8-K Current Report with the Securities and
                Exchange Commission disclosing the entering of the Agreement and
                the
                closing of the transaction contemplated
                herein.

            

    

    

    ARTICLE
      5

    CONDITIONS
      TO CLOSING

     

    
      	
              5.1

            	
              Conditions
                to Transferee’s Obligation to Close.
                At the Closing, each and every obligation of Transferee to consummate
                the
                transactions contemplated by this Agreement or to be performed on
                or
                before the Closing shall be subject to the satisfaction, on or before
                the
                Closing, of each of the following conditions, unless waived in writing
                by
                Transferee:

            

    

     

    
      	 	
              (a)

            	
              Execution
                of this Agreement.
                Execution and delivery by the parties to this
                Agreement.

            

    

     

    
      	 	
              (b)

            	
              Transferor’s
                Board Resolution.
                Execution and delivery by Transferor of a certified copy of the
                resolutions of the board of directors of Transferor authorizing the
                execution, delivery, consummation and performance of this
                Agreement.

            

    

     

    
      	 	
              (c)

            	
              Transferor’s
                Stockholder Resolutions.
                Execution and delivery by Transferor of a certified copy of the
                resolutions adopted by Transferor’s stockholders authorizing the
                execution, delivery, consummation and performance of this Agreement.
                

            

    

     

    
      	 	
              (d)

            	
              Company’s
                Board Resolution.
                Delivery by the Transferor of a certified copy of the resolutions
                of all
                of the board of directors of the Company authorizing the transfer
                of the
                Sale Equity.

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      	 	
              (e)

            	
              Company’s
                Stockholder Resolutions.
                Delivery by the Transferor of a certified copy of the resolutions
                adopted
                by Company’s stockholders authorizing the execution, delivery,
                consummation and performance of this
                Agreement.

            

    

    

    
      	 	
              (f)

            	
              No
                Government Proceeding or Litigation.
                No suit, action, investigation, inquiry or other proceeding by any
                governmental body or other person or legal or administrative proceeding
                shall have been instituted or threatened which questions the validity
                or
                legality of the transactions contemplated
                hereby.

            

    

     

    
      	 	
              (g)

            	
              Representations
                and Warranties True.
                The representations and warranties of Transferor contained in Article
                3
                hereof shall be in all material respects true and accurate as of
                the date
                hereof and as of the Closing as though such representations and warranties
                were made at and as of such date, except for changes expressly permitted
                or contemplated by the terms of this
                Agreement.

            

    

     

    
      	 	
              (h)

            	
              Due
                Diligence.
                Transferee shall have completed its due diligence investigation of
                the
                Transaction and shall be satisfied with the results thereof in its
                sole
                discretion. 

            

    

     

    
      	 	
              (i)

            	
              Waiver
                of the Right of the First Refusal. The
                waiver of the right of the first refusal in relation to this transaction
                as contemplated by this Agreement in the form of Exhibit B shall
                have been
                executed by Renewable Energy Solutions, Inc., Weihai Blue Star Glass
                Group
                Co., Ltd and Cameste Limited
                Resources.

            

    

    

    
      	
              5.2
                

            	
              Conditions
                to Transferor’s Obligation to Close.
                At the Closing, each and every obligation of Transferor to consummate
                the
                transactions contemplated by this Agreement or to be performed on
                or
                before the Closing shall be subject to satisfaction, on or before
                Closing,
                of each of the following conditions, unless waived in writing by
                Transferor:

            

    

     

    
      	 	
              (a)

            	
              Transferee’s
                Board Resolutions.
                Execution and delivery by Transferee of a certified copy of resolutions
                of
                the board of directors of the Transferee authorizing the execution,
                delivery, consummation and performance of this
                Agreement.

            

    

     

    
      	 	
              (b)

            	
              Representations
                and Warranties True.
                The representations and warranties of Transferee contained in Article 2
                hereof shall be in all material respects true and accurate as of
                the date
                hereof and as of the Closing as though such representations and warranties
                were made at and as of such date, except for changes expressly permitted
                or contemplated by the terms of this
                Agreement.

            

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      	 	
              (c)

            	
              Performance.
                Transferee shall have performed and complied with all agreements,
                obligations and conditions required by this Agreement to be performed
                or
                complied with by Transferee on or prior to the
                Closing.

            

    

     

    ARTICLE
      6

    COVENANTS;
      CONTINUING OBLIGATIONS

    

    
      	
              6.1
                

            	
              Governmental
                Approval.
                Transferor shall take all reasonable actions necessary to obtain
                (and
                shall cooperate with each other in obtaining):

            

    

    

    
      	 	
              (a)

            	
              investment
                certificates representing the Sale Equity to Transferee.
                

            

    

    

    (b)   a
      certified copy of the Business License or other proof indicative of the Chinese
      government’s approval of the Business License deemed acceptable by the
      Transferee, which documents shall be provided.

     

    
      	6.2	
              Sales
                Tax.
                Transferor shall jointly prepare and file a sales tax return (if
                required)
                regarding the sale of the Sale Equity to Transferee hereunder.
                

            

    

     

    
      	6.3	
              Contractual
                Relations.
                Notwithstanding the consummation of the transactions contemplated
                herein
                and the transfer of the Sale Equity to Transferee, at Transferee’s request
                and at Transferee’s sole cost and expense, Transferor shall provide
                Transferee reasonable assistance in its dealings with other contractual
                parties of Transferor. 

            

    

     

    
      	6.4	
              Non-Disparagement.
                Transferor and Transferee agree that they shall not, at any time,
                make any
                oral or written, public or private statements that are disparaging
                of the
                other or any of their respective subsidiaries, affiliates, successors
                or
                assigns, or any of their respective present or former officers, directors,
                agents or employees. Nor shall any of them make any oral or written,
                public or private statements that disparage or otherwise constitute
                trade
                libel of the other or any of their respective subsidiaries’, affiliates’,
                successors’ or assigns’ products.

            

    

     

    
      	
              6.5

            	
              Specific
                Enforcement.
                If any party commits a breach or threatens to commit a breach of
                any of
                the provisions of Article 6, the breached party shall have the right
                to
                have the provisions of this Agreement specifically enforced by any
                court
                having jurisdiction, without being required to post bond or other
                security
                and without having to prove the inadequacy of any other available
                remedies, it being acknowledged and agreed that any such breach will
                cause
                irreparable injury to the breached party and that money damages will
                not
                provide an adequate remedy to such party. In addition, the breached
                party
                may take all such other actions and remedies available to it at law
                or in
                equity and shall be entitled to such damages as it can show it has
                sustained by reason of such breach.

            

    

     

    
      	
              6.6

            	
              Further
                Assurances.
                Transferor hereby agree to execute and deliver at any time and from
                time
                to time after the Closing, all such further documents, instruments
                and
                agreements and take such action as may be reasonably requested by
                Transferee in order to more effectively transfer the Sale Equity
                to
                Transferee, or to effectuate and carry out the provisions of this
                Agreement and the Transaction contemplated
                hereby.

            

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

       

    

    
      	
              6.7

            	
              Further
                Action.
                Each of the Parties shall (a) take all reasonable actions necessary
                to
                comply promptly with all legal and regulatory requirements which
                may be
                imposed on any of them with respect to the Transaction contemplated
                by
                this Agreement and will promptly cooperate with and furnish information
                to
                each other in connection with any such requirements imposed on any
                of them
                in connection with the Transaction contemplated hereby and (b) take
                all
                reasonable actions necessary to obtain (and shall cooperate with
                each
                other in obtaining) any consent, authorization, order or approval
                of, or
                any exemption by, any Governmental Authority or other public or private
                third party, required to be obtained by any of the parties in connection
                with the Transaction contemplated by this
                Agreement.

            

    

    

    
      	
              6.8

            	
              Indemnification.

            

    

     

    
      	 	
              (a)

            	
              Transferor
                agrees to indemnify, hold harmless, reimburse and defend Transferee,
                the
                Transferee’s officers, directors, agents, affiliates, control persons, and
                principal shareholders, against
                any claim, cost, expense, liability, obligation, loss or damage (including
                reasonable legal fees) of any nature, incurred by or imposed upon
                the
                Subscriber or any such person which results, arises out of or is
                based
                upon (i) any material misrepresentation by Transferor or breach of
                any
                warranty by Transferor in this Agreement or in any Exhibits or Schedules
                attached hereto, or other agreement delivered pursuant hereto; or
                (ii)
                after any applicable notice and/or cure periods, any breach or default
                in
                performance by the Transferor of any material covenant or undertaking
                to
                be performed by the Transferor hereunder, or any other agreement
                entered
                into by the Transferor and Transferee relating hereto.
                

            

    

     

     

    
      	 	
              (b)

            	
              Transferee
                agrees to indemnify, hold harmless, reimburse and defend the Transferor
                and each of the Transferor’s officers, directors, agents, affiliates,
                control persons against any claim, cost, expense, liability, obligation,
                loss or damage (including reasonable legal fees) of any nature, incurred
                by or imposed upon the Transferor or any such person which results,
                arises
                out of or is based upon (i) any material misrepresentation by such
                Transferee in this Agreement or in any Exhibits or Schedules attached
                hereto, or other agreement delivered pursuant hereto; or (ii) after
                any
                applicable notice and/or cure periods, any breach or default in
                performance by such Transferee of any covenant or undertaking to
                be
                performed by such Transferee hereunder, or any other agreement entered
                into by the Transferor and Transferee, relating
                hereto.

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

       

    

    ARTICLE
      7

    EFFECTIVE
      DATE AND TERMINATION

    

    
      	7.1	
              Effective
                Date.
                This Agreement shall come into effect on the date of
                execution.

            

    

    

    
      	
              7.2

            	
              Termination.
                This Agreement may be terminated at any time prior to the Closing
                in
                accordance with the following
                provisions:

            

    

     

    
      	 	(a)	By mutual written consent of the Transferee and
              the
              Transferor;

      	 	 	 

      	 	
              (b)
                

            	
              By
                either the Transferor or the Transferee if the Closing does not occur
                on
                or before February 15, 2008 after the date hereof (the “Termination
                Date”);

            

    

    

    
      	 	
              (c)
                

            	
              Either
                the Transferor or the Transferee shall be entitled to elect not to
                complete the sale and purchase of the Sale Equity and, accordingly,
                to
                terminate this Agreement upon written notice to the other parties
                hereto
                if on or before the Closing Date:

            

    

     

    
      	 	(i)	there is a material breach of any covenant or obligation
              of the other
              party under this Agreement; or

      	 	 	 

      	 	
              (ii)
                

            	
              any
                action shall have been commenced or threatened by or before any
                Governmental Authority or Non-governmental Authority against the
                Transferor or the Transferee, seeking to restrain the Transaction
                which,
                in its reasonable, good faith determination, is likely to render
                it
                impossible or unlawful to consummate such transactions; provided,
                however,
                that the provisions of this Section 7.2 (c)(ii) may not be invoked
                by a
                party which has directly or indirectly solicited or encouraged such
                Action. 

            

    

    

    
      	
              7.3
                

            	
              Procedure
                Upon Termination.
                In the event of termination and abandonment by Transferee or by Transferor
                pursuant to the Section 6.2 hereof:

            

    

     

    
      	 	
              (a)

            	
              Written
                notice thereof shall forthwith be given to the other party and the
                transactions contemplated by this Agreement shall be terminated and
                abandoned, without further action by the
                parties;

            

    

     

    
      	 	
              (b)

            	
              Each
                party will redeliver all documents, work papers and other material
                of any
                other party relating to the transactions contemplated hereby, whether
                so
                obtained before or after the execution hereof, to the party furnishing
                the
                same;

            

    

     

    
      	 	
              (c)

            	
              All
                confidential information received by any party hereto with respect
                to the
                business of any other party or any of its subsidiaries or affiliates
                shall
                be treated in the strictest confidence;
                and

            

    

     

    
      	 	
              (d)

            	
              In
                consideration for the time and expense that each party has expended
                in the
                due diligence and negotiation of this transaction, no party hereto
                shall
                have any liability or further obligation to any other party to this
                Agreement except as stated above in this Section 7.3, and neither
                party
                shall make any claim, including any action for equitable relief or
                specific performance, against the other party nor be liable for the
                costs,
                expenses or damages that may result to the
                other.

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    ARTICLE
      8
      WAIVER

    

    Either
      party to this Agreement may (a) extend the time for the performance of any
      of
      the obligations or other acts of the other party, (b) waive any inaccuracies
      in
      the representations and warranties of the other party contained herein or in
      any
      document delivered by the other party pursuant hereto or (c) waive compliance
      with any of the terms or conditions of the other party contained therein. Any
      waiver of any term or condition shall not be construed as a waiver of any
      subsequent breach or a subsequent waiver of the same term or condition, or
      a
      waiver of any other term or condition, of this Agreement.

    

    ARTICLE
      9 GENERAL
      PROVISIONS

    

    
      	
              9.1

            	
              Representations.
                Transferee has been advised to obtain independent counsel to evaluate
                the
                terms, conditions and covenants herein set forth and has been afforded
                ample opportunity to obtain such independent advice and evaluation.
                Transferee warrants to Transferor that Transferee has relied upon
                such
                independent counsel and not upon any representation (legal or otherwise),
                statement or advice said or offered by the Transferor or Transferor’s
                legal counsel, advisor, or agent in connection
                herewith.

            

    

    

    
      	
              9.2

            	
              Expenses.
                All costs and expenses, including but not limited to, fees and
                disbursements of counsel, financial advisors and accountants, incurred
                in
                connection with this Agreement and the Transaction shall be paid
                by the
                party incurring such costs and
                expenses.

            

    

    

    
      	
              9.3

            	
              Notices.
                Notices and communications between the parties hereunder shall be
                in
                writing and shall be sent by personal delivery, prepaid registered
                or
                certified first class mail, prepaid air courier or facsimile to the
                parties’ addresses set forth below. Any notice given by personal delivery,
                registered or certified mail or air courier shall be deemed to have
                been
                received on the date of receipt; and any notice given by facsimile
                shall
                be deemed received after electronic answerback has been received
                and
                twenty-four (24) hours have elapsed at the place of the party receiving
                such notice.

            

    

    

    If
      to the
      Transferor: 

    Terra
      Solar Global, Inc.  

    45
      Rockefeller Plaza, Ste 200092

    New
      York,
      New York

    Attn: Mr.
      Jack
      C. Chu, CEO

    Tel:
      503.227.2023 

    Fax:
      503.227.2925

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    If
      to the
      Transferee:

    Solar
      Thin Films, Inc.

    25
      Highland Boulevard

    Dix
      Hills, New York 11746

    Attn: Mr.
      Peter
      Lewis, CEO

    Tel: (516)
      417-8454 

    Fax:
      _____________________

    

    
      	
              9.4

            	
              Severability.
                If any term or other provision of this Agreement is invalid, illegal
                or
                incapable of being enforced by any Law or public policy, all other
                terms
                and provisions of this Agreement shall nevertheless remain in full
                force
                and effect so long as the economic or legal substance of the transactions
                contemplated hereby is not affected in any manner materially adverse
                to
                any party. Upon such determination that any term or other provision
                is
                invalid, illegal or incapable of being enforced, the parties hereto
                shall
                negotiate in good faith to modify this Agreement so as to effect
                the
                original intent of the parties as closely as possible in an acceptable
                manner in order that the transactions contemplated hereby are consummated
                as originally contemplated to the greatest extent
                possible.

            

    

    

    
      	
              9.5

            	
              Amendment.
                This Agreement may not be amended or modified except by an instrument
                in
                writing signed by, or on behalf of, the Transferor and the
                Transferee.

            

    

    

    
      	
              9.6

            	
              Governing
                Law.
                This Agreement shall be governed by and construed in accordance with
                the
                laws of the State of Delaware, U.S.A.

            

    

    

    
      	
              9.7

            	
              Attorneys’
                Fees.
                Each party shall bear its own costs and attorneys’ fees incurred in the
                disputes hereby resolved except as provided herein. If any party
                hereto
                shall bring an action against any other party hereto, or otherwise
                seek to
                enforce this Agreement, by reason of the breach of any covenant,
                warranty,
                representation or condition of this Agreement, or otherwise arising
                out of
                this Agreement, whether for declaratory or other relief, each party
                shall
                bear its own costs of suit and attorneys’
fees.

            

    

    

    
      	
              9.8

            	
              Assignment.
                This Agreement may not be assigned to any third party, except affiliates
                of the Transferee, by operation of Law or otherwise without the express
                written consent of the Transferor and the
                Transferee.

            

    

    

    
      	
              9.9

            	
              Entire
                Agreement.
                This Agreement constitutes the entire agreement of the parties hereto
                with
                respect to the subject matter hereof and supersedes all prior agreements
                and undertakings, both written and oral, among the Transferor and
                the
                Transferee with respect to the subject matter hereof.
                

            

    

    

    
      	
              9.9

            	
              Headings.
                The descriptive headings contained in this Agreement are for convenience
                of reference only and shall not affect in any way the meaning or
                interpretation of this Agreement.

            

    

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
      	
              9.10

            	
              Counterparts.
                This Agreement may be executed in one or more counterparts, and by
                the
                different parties hereto in separate counterparts, each of which
                when
                executed shall be deemed to be an original but all of which taken
                together
                shall constitute one and the same
                agreement.

            

    

    

    
      	
              9.11
                

            	
              Right
                of Set-Off.
                Notwithstanding anything in this Agreement to the contrary, neither
                party
                hereto shall have the right to set-off any payment obligation pursuant
                to
                this Agreement against any other payment to be made to the other
                party or
                any third party.

            

    

    

    IN
      WITNESS WHEREOF, the Transferor and the Transferee have caused this Agreement
      for the Sale and Purchase of Equity Interest in Weihai Blue Star Terra Photovaic
      Co. Ltd. to be executed by their duly authorized representatives as of the
      date
      first written above.

    

    

    
      	 	
              TRANSFEROR:
                Terra Solar Global, Inc. 

            
	 	 
	 	 
	
              WITNESS:

            	
              By:
                /s/ Jack Chu 

            
	 	
              Name:
                Jack Chu

            
	 	
              Title:
                CEO

            
	 	 
	 	 
	 	 
	 	
              TRANSFEREE:
                Solar Thin Films, Inc.

            
	 	 
	
            	 
	
              WITNESS:

            	
              By:
                /s/ Robert M. Rubin

            
	 	
              Name:
                Robert M. Rubin

            
	 	
              Title:

            

    

     

    
      
         

      

      
        13

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