DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s):
Miscellaneous
Phoenix Solar AG owns project rights for a solar park with a peak
power of 50 megawatts in Bulgaria
04.10.2011 / 11:00
---------------------------------------------------------------------
Phoenix Solar AG owns project rights for a solar park with a peak power of
50 megawatts in Bulgaria
- All approvals obtained
- Sales negotiations with investors under way
Sulzemoos 4th October 2011 / Phoenix Solar AG (ISIN DE000A0BVU93), a
leading international photovoltaic system integrator listed in the Prime
Standard of the Frankfurt Stock Exchange, has secured the project rights
for a solar park with a peak power of 50 megawatts in Kazanlak situated in
Bulgaria's inland. The solar park comprises ten SPVs, each with a peak
power of five megawatts. The project development for this solar park was
initiated back in 2009 when Phoenix Solar secured the rights for 20
megawatts. Following the successful project development and securing of the
feed-in tariff, Phoenix Solar was able to raise the volume to 50 megawatts.
Phoenix Solar is currently negotiating with several investors to sell the
project. All the approvals necessary for realising the solar park have been
obtained. The construction of the first phase is due to start before the
close of 2011.
The Bulgarian Parliament approved the enactment of a feed-in tariff for
electricity from renewable energies in June 2011. Similar to Germany, the
amount of the feed-in remuneration is fixed for 20 years. At present,
remuneration comes to a converted amount of around 24.8 euro cents per
kilowatt hour.
'We have been actively engaged in Bulgaria's photovoltaic market since
October 2009. The successful project development and the subsequent sale of
the solar power plant in Kazanlak is another step forward in the
internationalisation of Phoenix Solar AG. It is the largest project
development ever of Phoenix Solar AG', said Dr. Andreas Hänel, Chief
Executive Officer of Phoenix Solar AG.
The solar park is being built on 114 hectares of land belonging to the
Municipality of Kazanlak. The specific yield of the plant in this region
comes to between 1,300 and 1,350 kilowatt hours per kilowatt peak a year
and is therefore 30 percent higher on average in comparison with Germany.
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 operates
large-scale photovoltaic plants and is a specialist wholesaler for turnkey
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 in the official market (Prime Standard) of the Frankfurt Stock
Exchange.
Contact:
Phoenix Solar AG
Jutta Stolp
Hirschbergstrasse 8
85254 Sulzemoos
Germany
Tel.: +49 (0)8135 938-315
Fax: +49 (0)8135 938-399
j.stolp@phoenixsolar.de
www.phoenixsolar-group.com
Local Court of Munich HRB 129117
Ust-ID Nr. DE 812868419
Board of Directors: Dr. Andreas Hänel (CEO), Dr. Murray Cameron, Sabine
Kauper, Ulrich Reidenbach
Head of Supervisory Board: J. Michael Fischl
End of Corporate News
---------------------------------------------------------------------
04.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Phoenix Solar Aktiengesellschaft
HirschbergstraÃe 8
85254 Sulzemoos
Germany
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt@phoenixsolar.de
Internet: www.phoenixsolar-group.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München (m:access), Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
141171 04.10.2011
DGAP-News: Phoenix Solar AG owns project rights for a solar park with a peak power of 50 megawatts in Bulgaria
| Source: EQS Group AG