Phoenix Solar Aktiengesellschaft / Contract
16.07.2008
Release of a Adhoc 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: Framework agreement signed for the construction of
photovoltaic power plants in Italy with a peak output of 14 megawatts
- Largest project contract in the history of the company
- First megawatt projects in Italy
- Consistent expansion of the investor base
Sulzemoos 16 July 2008 / Phoenix Solar AG (ISIN DE000A0BVU93) today signed
a framework agreement with Meinl International Power Ltd, an investor and
company listed in the Third Market on the Vienna Stock Exchange. The
agreement concluded is for the planning and turn-key construction of
photovoltaic power plants with a peak output totalling approximately 14
megawatts (MWp). The power plants, each of which with a peak output of
around one megawatt, are to be built in a number of locations in Sicily by
the end of 2009. The projects are in various stages of development. Phoenix
Solar AG will also take over the operation and maintenance of the power
plants.
The framework agreement has a volume in the high double-digit million range
and is the largest project contract in the history of Phoenix Solar AG.
The Italian photovoltaics market is considered one of the most promising
growth markets in Europe. The Italian photovoltaic industry association
GIFI estimates that the market volume likely to be attained this year is
150 MWp (2007: 60 MWp). The market is expected to double to more than 300
MWp in 2009. The growth rates would then far exceed those of the German
market.
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 EUR 370 million, generated in Germany and abroad, for
the financial year 2008. Phoenix Solar AG plans, builds and undertakes the
operation of 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
180 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.
About Meinl International Power Ltd
MIP is involved in many solar and wind power projects in Europe. At
present, the company is constructing three solar projects in Spain and has
invested in four wind projects in Slovakia and the Czech Republic, a wind
park in Germany and a gas-fired power plant in Hungary. The total
investment volume of the companys participations come to around 418.5
million, with part of the capital provided in the form of lending by banks.
The company has been listed on the Vienna Stock Exchange since summer 2007
and invests in power plant projects in conventional and renewable sources
of energy.
Disclaimer
The content of this press release is solely for information purposes and is
not intended to constitute a recommendation for investment or a
solicitation to subscribe or an offer to buy or sell securities of the
company. Phoenix Solar AG shall undertake no liability whatsoever for any
loss in connection with this press release or the information made
available. This also applies particularly to any eventual loss in
connection with the shares of Phoenix Solar AG.
This document contains forward-looking statements on future developments
which are based on managements current assessment. Words such as
'anticipate', 'assume', 'believe', 'estimate', 'expect', 'intend',
'can/could', 'plan', 'project', 'forecast', 'should', and similar terms are
indicative of such forward-looking statements. Such statements are subject
to certain risks and uncertainties which are mainly outside the sphere of
influence of Phoenix Solar AG, but which have an impact on the business
activities, the success, the business strategy and the results. These risks
and factors of uncertainty include, for instance, climatic change, changes
in the state subsidisation of photovoltaics, the introduction of competitor
products or technologies of other companies, the development of the planned
internationalisation of business activities, fierce competition as well as
rapid technological change in the photovoltaic market. If one of these or
other factors of uncertainty or risks should occur, or if the assumptions
underlying the statements should prove incorrect, the actual results may
diverge substantially from the results in these statements or implicit
indications. Phoenix Solar AG does not have the intention nor will it
undertake any obligation to realise forward-looking statements on an
ongoing basis or at a later point in time as this is entirely dependent on
circumstances prevailing on the day of their release.
In some countries, especially in the United States of America, the
dissemination of this press release and the information contained therein
may be restricted or prohibited under the law. This press release is
therefore expressly not intended for persons resident in the United States
of America or any other legal system under which such an offer or
solicitation is not permissible, or for persons for whom such an offer or
invitation would constitute a breach of the law
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 16.07.2008
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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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DGAP-Adhoc: Phoenix Solar Aktiengesellschaft: Framework agreement signed for the construction of photovoltaic power plants in Italy with a peak output of 14 megawatts
| Source: EQS Group AG