January 31, 2008

Sulzemoos, Germany: Phoenix Solar Wins Spanish Photovoltaic Project Contracts

Last week, Madrid-based Phoenix Solar S.L., the Spanish subsidiary of Phoenix Solar AG, signed contracts for the construction of power plants with a peak output of more than 9 megawatts (MW). This corresponds to sales of over EUR 40 million.

The largest project is a 6.7 MW ground-mounted power plant in Blanca, Murcia, which Phoenix Solar will build using crystalline solar modules on a surface area of 17 hectares. The customer is a large company located in Murcia, operating in the field of agriculture. The power plant is financed by Caja Murcia, amongst other banks. Phoenix Solar is set to build a 1.3 megawatt power plant in Murcia, for an investor for which Phoenix has already constructed and taken into operation plants with a total output of 3.2 megawatts. As with the existing power plants, the plant will be built with thin-film modules by First Solar.

The repeat order by the client is further evidence of the quality delivered, as well as the strong partnership and long-term cooperation between Phoenix and its customers. Francisco Conesa, Managing Director of Phoenix Solar S.L., has succeeded in winning a new customer in Ataquines, Valladolid. Ten private investors have combined together to develop a power plant with a peak output of slightly over one megawatt. Phoenix Solar will also be constructing this plant using thin-film modules.

Phoenix Solar is responsible in the capacity of general contractor for the planning, construction and the turnkey delivery of all three plants. In addition, the company has assumed the maintenance and remote monitoring of the plants. The construction of the plants is due to begin in the next few weeks, and completion has been scheduled as early as the first half of the year.

”In the past year, the Spanish market has quadruplicated, from 100 to more than 400 megawatts. In the current year, we are expecting demand to run high in the first six months and hope that the Spanish legislators will approve reliable, long-term framework conditions for photovoltaics as soon as possible. At the moment we are delighted that, right at the start of the year, we have been able to prove our competence in the market with such large projects”, commented Francisco Conesa.

Further details about: Phoenix Solar