DGAP-News: Phoenix Solar Aktiengesellschaft to build further photovoltaic power plants in Spain

Phoenix Solar Aktiengesellschaft / Miscellaneous

27.03.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Phoenix Solar AG to build further photovoltaic power plants in Spain
totalling more than seven megawatts

- Another joint project with KGAL
- First project on island of Mallorca 

Sulzemoos 27 March 2008 / In the months ahead, Phoenix Solar AG and KGAL
(KG Allgemeine Leasing GmbH & Co.) are to implement another joint project
in Spain. Last week the companies signed an agreement with a Spanish
project development company, thereby acquiring the project rights to a
solar park in San Clemente in the Province of Castilla La Mancha. Phoenix
Solar will plan and build a solar power plant with a peak output of 5.3
megawatt (MW) in this region, complete it by July 2008 and hand it over to
KGAL. The plant will be constructed using thin-film modules from First
Solar. The financing, as in the four previous projects, will be provided by
a public solar fund launched by the initiator KGAL .

The Spanish subsidiary of Phoenix Solar AG, Phoenix Solar S. L., is set to
build a ground-mounted power plant for the first time on a Spanish island.
This project with a peak output of 1.2 MW, to be completed in July 2008 on
the island of Mallorca, will also be built using First Solar thin-film
modules. An additional photovoltaic power plant with an output of 700
kilowatts also with thin-film modules from First Solar, is to be built in
the Province of Castilla La Mancha and to be completed by July 2008.

The Spanish solar market is accelerating swiftly. By the end of January
alone, registered photovoltaic plants feeding into the grid came to around
624 MW, 452 MW of which are already being compensated via the Spanish law
on feed-in tariffs. This figure is increasing by an average of 38 megawatts
of new solar electricity systems per month.

'Spain is therefore one of the world's most attractive markets. We are
pleased that we are now able to apply to Spain the knowledge that we have
gathered through constructing solar power plants in Germany', commented Dr.
Andreas Hänel, Chief Executive Officer of Phoenix Solar AG.


This is an English translation of the German. 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. The preliminary figures for the financial year 2007 come to EUR 260 in
total sales and an EBIT of EUR 22.3 million. The Phoenix Solar Group
anticipates sales of EUR 300 million, generated in Germany and abroad, for
the financial year 2008. 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 160 employees. The shares
of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market
(Prime Standard) of the Frankfurt Stock Exchange. On 25 March 2008, the
shares of the company were admitted to the TecDAX technology index of
Deutsche Börse AG.

Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117 
Ust-ID Nr. DE 812868419 




Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117 
Ust-ID Nr. DE 812868419 



DGAP 27.03.2008 
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Language:     English
Issuer:       Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8
              85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart
End of News                                     DGAP News-Service
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