Phoenix Solar AG to build a megawatt photovoltaic plant in Greece

- General contractor agreement signed for a PV plant with a peak power output of 952 kW
- First megawatt PV plant in Greece

Sulzemoos - Phoenix Solar AG signed a general contractor agreement with a company based in the UK for the construction of a PV plant in Greece with a peak power output of 952 kilowatt (kW). Construction work on the plant is due to begin this year. The completion of the plant has also been scheduled for this year.

The project site is on mainland Greece not far from Thessaloniki. A project developer based in Cyprus is responsible for developing the project, i.e. for obtaining all the necessary approvals. Phoenix Solar is to plan and build the power plant and turn it over upon full completion.

Owing to a law on feed-in tariffs for renewable energies passed in Greece last year, the country has now taken its place as one of Europe’s most attractive solar markets. In this sunny country, the remuneration for one kilowatt hour (kWh) of solar electricity fed into the grid is 40 Euro cents for PV plants of more than 100 kW peak power output. The tariffs are adjusted every year to take account of inflation.

The demand for grid-connected large-scale photovoltaic plants is very high in Greece. Due to the complex and protracted approval procedure, no grid connected photovoltaic plants of over 100 kW peak power output have been built so far. Upon completion, the megawatt power plant will be Greece’s largest grid-connected PV plant.

Phoenix Solar AG has been working for two years on its market entry into Greece. This megawatt project and the framework agreement signed last month on project development for 25 megawatts of PV power have secured the company an excellent starting point for developing business in the attractive and promising Greek solar market.

This is an English translation of the German original. Only the German version is binding.


About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic systems integrator. Until June 2007, the company, which was set up in 1999, went by the name of Phönix SonnenStrom AG. In the financial year 2006, the Phoenix Solar Group achieved sales of EUR 119 million in Germany and abroad. Phoenix Solar AG plans, builds and operates large photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic systems technology. It focuses on the consistent lowering of system costs. With a sales network which covers the whole of Germany, and subsidiaries in Spain and Singapore, as well as a participation in Italy, the Group currently has a workforce of more than 130 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange.


Sulzemoos, 02 October 2007

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Andrea Zepf, Corporate Communications & Public Relations Phoenix Solar AG.

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Tel: 08135-938-313
Fax: 08135-938-399
E-mail: a.zepf@phoenixsolar.de>a.zepf@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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