Phoenix Solar Singapore signs a contract for two solar parks in Thailand

- Two solar parks with a peak power totalling around 16 megawatts
- Thailand as a new market for Phoenix Solar
- Important milestone in expansion outside Europe


Sulzemoos - Phoenix Solar Pte Ltd in Singapore, a subsidiary of Phoenix Solar AG (ISIN DE000A0BVU93) which is a leading system integrator listed on the German TecDAX, has signed a contract with Solarta Co Ltd for two photovoltaic power plants in Thailand. The two power plants have a peak power of 9.7 and 6.2 megawatts and are located to the north west, around two hours’ drive from Bangkok.

Phoenix Solar Singapore will be working closely together with the Thai company Process Engineering Services Co Ltd (PESCO) on this large project. Phoenix Solar is responsible for planning the two power plants and will be supplying the solar modules, inverters and cables. PESCO will carry out the construction on site. Construction work on the Sai Yai and Sai Thong solar parks started already in June. The power plants are to be connected to the grid of Provincial Electricity Authority (PEA), the local energy supplier, by the end of the year.

The project sites receive around 1,850 kWh of sunlight per square metre annually. The electricity yield from more than 67,000 SCHOTT solar modules and SMA inverters is anticipated to be more than 25,000 megawatt hours a year. This is enough to supply around 10,000 Thai households with green electricity.

Solarta Co Ltd as the principal is a joint venture between Yanhee Solar Power Co Ltd and Ratchaburi Electricity Generating Holding PLC, an independent power producer.

Thailand has had a remuneration system for renewable energy since 2006, consisting of a basic feed-in tariff and an \"adder\" tariff. During the first ten years, solar electricity produced by these two projects will be remunerated at a rate of around 25 euro cents (converted from Baht) per kilowatt hour fed into the grid. From year eleven onwards, the prevailing wholesale tariff will apply, which is currently around seven euro cents.

Dr Supot Sumritvanitcha, Managing Director of Yanhee Solar Power Co Ltd, stated: \"We chose Phoenix Solar and PESCO because of their strong reputation for product and construction quality and on-time completion. They deliver the ideal combination of high-tech German engineering and technology with local construction and management know-how.\"

\"We are delighted by this strategically important project in Thailand. Our intention is to concentrate our projects business more on the regions of Asia, the Middle East and the USA. Following our first megawatt project in Saudi Arabia, the two projects in Thailand are another important milestone for us\", commented Dr Andreas Hänel, Chief Executive Officer of Phoenix Solar AG.


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 system integrator. The Group achieved total revenues of EUR 636 million and an EBIT of EUR 36.4 million in the financial year 2010. The company develops, plans, builds and takes over the operation of large-scale photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany, and subsidiaries in Spain, Italy, Greece, France, Singapore, Malaysia, Oman, Australia and the United States of America, the Group currently has a workforce of more than 400 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and on the TecDAX, Deutsche Börse AG’s technology index.


Sulzemoos, 14 June 2011


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