Spanish subsidiary of Phoenix Solar AG wins contracts worth more than EUR 40 million

- Photovoltaic power plants with over 9 megawatts peak output
- Excellent start to the year 2008


Sulzemoos - Last week, Madrid-based Phoenix Solar S.L., the Spanish subsidiary of Phoenix Solar AG, signed contracts for the construction of power plants with a peak output of more than 9 megawatts (MW). This corresponds to sales of over EUR 40 million.

The largest project is a 6.7 MW ground-mounted power plant in Blanca, Murcia, which Phoenix Solar will build using crystalline solar modules on a surface area of 17 hectares. The customer is a large company located in Murcia, operating in the field of agriculture. The power plant is financed by Caja Murcia, amongst other banks.

Phoenix Solar is set to build a 1.3 megawatt power plant in Murcia, for an investor for which Phoenix has already constructed and taken into operation plants with a total output of 3.2 megawatts. As with the existing power plants, the plant will be built with thin-film modules by First Solar. The repeat order by the client is further evidence of the quality delivered, as well as the strong partnership and long-term cooperation between Phoenix and its customers.

Francisco Conesa, Managing Director of Phoenix Solar S.L., has succeeded in winning a new customer in Ataquines, Valladolid. Ten private investors have combined together to develop a power plant with a peak output of slightly over one megawatt. Phoenix Solar will also be constructing this plant using thin-film modules.

Phoenix Solar is responsible in the capacity of general contractor for the planning, construction and the turnkey delivery of all three plants. In addition, the company has assumed the maintenance and remote monitoring of the plants. The construction of the plants is due to begin in the next few weeks, and completion has been scheduled as early as the first half of the year.

"In the past year, the Spanish market has quadruplicated, from 100 to more than 400 megawatts. In the current year, we are expecting demand to run high in the first six months and hope that the Spanish legislators will approve reliable, long-term framework conditions for photovoltaics as soon as possible. At the moment we are delighted that, right at the start of the year, we have been able to prove our competence in the market with such large projects", commented Francisco Conesa.

This is an English translation of the German version. 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 Phoenix Solar Group anticipates sales of more than 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 150 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange.


Sulzemoos, 31 January 2008

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Attention editorial offices: For further questions please contact Mrs.
Andrea Zepf, Press & Public Relations Phoenix Solar AG.

Hirschbergstr. 8
D-85254 Sulzemoos
Tel: 08135-938-313
Fax: 08135-938-399
E-mail: a.zepf@phoenixsolar.de
Internet: http://www.phoenixsolar.de

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