DGAP-News: Phoenix Solar Aktiengesellschaft founds subsidiary in Australia


Phoenix Solar Aktiengesellschaft / Miscellaneous

01.07.2008 

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 founds subsidiary in Australia 

•Fifth continent ready for solar technology
•First law on feed-in law tariffs comes into force in July

Sulzemoos/Adelaide 01 July 2008 / Phoenix Solar AG founded a wholly-owned
subsidiary in Australia on 1 July 2008. Phoenix Solar Pty Ltd, which has
its headquarters in Adelaide in the State of South Australia, will serve
the whole Australian continent. The managing director of the newly founded
company is Christian Bindel who has worked in the field of photovoltaics
since 1999.

The Australian subsidiary will replicate and build up the business model of
the parent company with the two segments of power plants and wholesale
business for photovoltaic (PV) systems, modules and components. The
activity will be geared towards installers to whom Phoenix Solar will offer
grid-connected photovoltaic systems for home owners, schools and
municipalities, and, in future, to large investors or utilities for the
delivery of turn-key ground-mounted PV plants or large roof-mounted PV
systems.

Through the founding of Phoenix Solar Pty Ltd, the parent company has taken
another important step in implementing its internationalisation strategy
and, together with its subsidiaries in Spain, Singapore and Greece, and its
participation in the Italian company RED 2002, Phoenix Solar now also
covers the 'fifth continent'. With its headquarters in Adelaide, South
Australia, Phoenix Solar has now positioned itself in the sunniest state on
the world’s sunniest continent. South Australia is a pioneer in its
promotion of solar energy having 40 percent of all grid-connected installed
photovoltaic systems in Australia with a proportionate population of only 8
percent. The first law on PV feed-in tariffs will come into force in South
Australia in July 2008. The states of Queensland and Victoria have,
however, also published their own draft feed-in laws. At federal government
level, photovoltaics is receiving support in the form of subsidisation
programmes aimed at households, schools and municipalities. Australia has
committed itself to generating 20 percent of its power consumption from
renewable energies by 2020, and photovoltaics is set to play an important
role, especially as a reliable supplier of electricity at peak times.

The manager of the newly founded company is Christian Bindel. The 35-year
old engineer worked for Phoenix Solar in Germany from 2003 to 2006 and has
been preparing the company’s entry into the Australian market since 2007.
Bindel has extensive experience in the planning and construction of PV
power plants in the megawatt scale and is a specialist in system
configuration using thin-film modules. 'Through its application of
thin-film technology since 2003, Phoenix Solar AG has been a pioneer in
using a new generation of photovoltaic modules in power plant construction.
Building on this experience will put us in a position in Australia where we
will be able to offer photovoltaic power plants with the lowest specific
electricity generating costs ($/kWh)in a national comparison. Together with
the enormous solar irradiation in Australia, this opens up an exciting
market potential', commented Christian Bindel in keen anticipation of his
new tasks.

Together with Desert Knowledge Australia, Bindel has already initiated the
first project in Australia. As part of a Solar Technology Demonstration
Facility promoted by the Australian government, a ground-mounted PV power
plant built with thin-film modules from First Solar will, as the first of
its type in Australia, deliver proof of the powerful performance of Phoenix
Solar’s system design.

A second project, with a peak output of 10 kilowatt, is a PV system to be
mounted on the roof of the German School in Sydney. This system will be
installed by Phoenix Solar this September under the Solar Roofs Programme
run as part of the Renewable Energy Export Initiative organised by the
German Energy Agency.

______________________
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. With total revenues of EUR 260 million, the Group's EBIT came to EUR
22.3 million in the financial year 2007. The Phoenix Solar Group
anticipates sales of over EUR 370 million, generated in Germany and abroad,
in the financial year 2008. Phoenix Solar AG develops 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, Greece, Singapore and Australia, as well as a
participation in Italy, the Group currently has a workforce of more than
170 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 


DGAP 01.07.2008 
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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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