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Press Release

Publisher: Ph

Ph

Sulzemoos, 24 August 2005 / In the presence of more than 100 guests, Phönix SonnenStrom AG inaugurated the first two megawatts of a ground-mounted large solar power plant on 19 August 2005 in Miegersbach, Bavaria. Gerda Hasselfeldt MP, deputy leader of the CDU/CSU party and in the election team of Angela Merkel, responsible for agriculture, consumer protection and the environment, congratulated the company which is based in Sulzemoos near Munich on this flagship project.

Phönix SonnenStrom has assembled 11,616 solar modules on a surface area of more than 56,000 m². These modules have been generating electricity since the end of June which is fed into the grid of the utility company E.ON. Upon completion of the whole plant at the end of this year, the solar electricity plant, which will have a peak power output of 5.3 megawatts, will be one of the largest PV-plants in the world.

In her speech Ms Hasselfeldt commented on the sharp growth of the German solar market, which reinforces Germany's leading position in solar technology and opens up huge export potential for the economy. She went on to say that the way had been paved for the promotion of renewable energies through the Act on the Sale of Electricity to the Grid passed by the Union-led government at the start of the 90's. Her statement that “we still stand behind our goal which is to promote renewable energies" was greeted by spontaneous applause from the audience.

The Union politician considers it important that all those involved have planning security. However, the promotion of renewable energies must be reviewed regularly in respect of the goals of achieving a sustainable energy policy – being environmentally compatible, commercially viable and securing a constant supply. The politician assured her audience that existing photovoltaic plants enjoy a protected status.

Konrad Brandmair, Mayor of Odelzhausen, in whose district the Miegersbach solar electricity plant has been erected, explained the steps of the approval procedure which such a project entails. He spoke of a possible record in terms of the very smooth handling of the procedure and wished the operators many sunny days.

Dr. Klaus Wolf, member of the Board of Directors of KG Allgemeine Leasing GmbH & Co. (KGAL), expressed his particular delight as a representative of the fund initiator at the first investment of his company in the future-oriented photovoltaics technology. KGAL is one of Europe’s largest financial service providers and funds projects such as the Allianz Arena, commercial real estate, aircraft and container ships. Sonnenpark Miegersbach, the name of the Miegersbach plant, was launched as a closed solar fund and is offered to investors in the form of a participation. Wolf praised the short construction period of only seven weeks for the first two megawatts as a huge success. “I am looking forward to the next solar projects and to a long-term successful cooperation with Phönix SonnenStrom AG", commented Wolf.

Anton Kreitmair, representative of the association of farmers, made a clear statement on the standpoint of farmers who are open to all forms of renewable energies. He welcomed the fact that photovoltaics enable the inexhaustible energy of the sun to be harnessed and that solar energy provides another source of income for the farmers. The Miegersbach plant, he said, was a positive example of a green field solar electricity system which harmonises well with the countryside. Addressing the politicians in the audience especially he stated: “I expect all parties to continue to pursue the current energy policy.”

Dr. Roderich Zauscher, district chairman of the association of nature conservation, BUND, commented: “We are coming to the end of the age of fossil fuel and it is time for us to concentrate on expanding renewable energies.” He went on to say that, in this task, the most efficient alternative of sourcing energy was through the sun. “To achieve the same energy output with rape crop, you need to cultivate 50 times the surface area”, explained Zauscher.

Dr. Andreas Hänel, CEO of Phönix SonnenStrom AG, made reference to a research paper done by the Landesbank Baden-Württemberg which considers photovoltaics to be well on the way to becoming an established industry, with a global sales volume of EUR 6.3 billion. In the bank’s opinion, the industry will have reached commercial viability within a few years. The cornerstone for the stellar development of photovoltaics is the Renewable Energy Act. This successful German market launch programme has been replicated as an “export hit” in more than 40 countries. As an illustration of the growth of the German market Hänel cited the Miegersbach plant which, at the end of the year, will have a peak power output of 5.3 megawatts which corresponds exactly to the whole output of the German photovotaic market in 1995. Hänel expressed his thanks to all the land owners, the approving authorities and all those involved in the construction work on the SonnenPark Miegersbach . “It's important to have everyone going in the same direction”, commented Hänel.

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About Phönix SonnenStrom AG: Phönix SonnenStrom AG, based in Sulzemoos near Munich, is a leading systems supplier in the German and European photovoltaic sectors. The company designs and builds large-scale photovoltaic plants and operates as a wholesaler of complete solar electricity plants, solar modules and components. Phönix SonnenStrom AG is represented throughout Germany through its own sales network and has a pan-European dealer network. The subsidiary Phönix Projekt & Service AG offers comprehensive services for solar funds. Since June 2005, Phönix SonnenStrom AG has taken its place among the winners of the “Bayerns Best 50” award, which makes it one of Bavaria’s fastest growing companies. The shares of the company (ISIN DE000A0BVU93) have been traded over the counter on the stock exchanges of Munich, Frankfurt am Main, Berlin / Bremen and Stuttgart since 18 November 2004. Since 1 July 2005, the company has been listed on the M:access quality segment of the Munich Stock Exchange.

About KG Allgemeine Leasing GmbH & Co. (KGAL): KGAL is a dedicated holding company of Dresdner Bank, BayernLB, Hamburger Sparkasse and a financial investor. KGAL Group’s business activities encompass almost the entire spectrum of instruments and services for structuring big ticket and mid-ticket asset-based financing and investment products – from project financing through to developing optimal financial solutions through arranging the necessary equity and debt financing, to asset and fund management. With a new business volume of over EUR 5.8 billion in the year 2004 and a volume of managed assets of around EUR 37.5 billion, the KGAL Group is one of the biggest and most successful European groups in the industry.



For more information please contact:

Phönix SonnenStrom AG:
Andrea Zepf
Hirschbergstraße 8
D-85254 Sulzemoos
Tel.: 0049 (0) 8135-938-313
Fax: 0049 (0) 8135-938-399
e-mail: Zepf@SonnenStromAG.de
Internet: http://www.SonnenStromAG.de



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