Phönix SonnenStrom AG accelerates internationalization through strategic investment in Italy

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Purchase of a stake in RED 2002 S.r.l. on 1 January 2006
Phönix plans to raise the share of sales from international business to 50 % by the year 2010

Sulzemoos, 7 February 2006/ As part of its ambitious internationalisation strategy Phönix SonnenStrom AG has acquired a 49 % participation in Renewable Energies Development 2002 S.r.l. (RED 2002), an Italian system integrator headquartered in Rome. The agreement includes the option of increasing the participation to 75 %. This acquisition bolsters Phönix SonnenStrom AG’s drive to internationalise its business, its goal being to raise the share of its sales from international business to over 50 % by 2010. Further acquisitions and the founding of subsidiary companies abroad, in particular in southern Europe, are planned.

In August 2005 the Italian government passed the long-awaited decree establishing a photovoltaic tariff as part of Italy’s new renewable energies law. Following the large number of applications received in 2005, the terms of the decree were optimised and improved at the end of January 2006. The initial cap of 100 MW PV power installed was significantly increased. In addition, thin film modules are now fully eligible for support. From 2006 onwards the government intends to approve new photovoltaic plants up to a total peak power of 85 MW each year. This is more than twenty times the market volume in Italy in 2005.

RED 2002 was founded in 2001. The company is and will remain under the management of its three directors, Domenico A. Inglieri and Piero Rossetti, who have many years of professional experience from working for large oil companies, and Antonio Ruta, who has specialized in PV technology. Domenico Inglieri as Member of the Board of Directors of GIFI, the Italian photovoltaic industry association, played an important part in assisting the government with the preparation of the Italian PV-programme.

“As an established company, RED 2002 is the ideal partner for our entry into the Italian market which we consider to have great growth potential. Italy is now where Germany was a few years ago, and today Germany is the world’s largest photovoltaic market”, explained Dr. Andreas Hänel, Chief Executive Officer of Phönix SonnenStrom AG.

“Our knowledge of the Italian market, combined with the competence and experience of Phönix, one of the most prominent builders of large-scale turn-key photovoltaic plants in Europe, are perfectly complementary,” was the comment of RED 2002’s Domenico Inglieri. “We are looking forward to working together with Phönix SonnenStrom.

About Phönix SonnenStrom AG
Phönix SonnenStrom AG, headquartered in Sulzemoos near Munich, is a leading systems supplier in the German and European photovoltaic sectors. The company designs and builds large-scale turn-key photovoltaic plants and operates as a wholesaler of complete solar electricity systems, solar modules and components. In 2005, Phönix SonnenStrom AG received the "Bayerns Best 50" and "Europe's 500" awards in recognition of its rapid growth. The shares of the company (ISIN DE000A0BVU93) have been traded on the OTC segment since November 2004 and on the M:access quality segment of the Munich Stock Exchange since July 2005.

For further information please contact
Phönix SonnenStrom AG
Hirschbergstraße 8
D-85254 Sulzemoos

Presse- und Öffentlichkeitsarbeit
Andrea Zepf
Tel.	+49 (0)8135 938 - 313
Fax	+49 (0)8135 938 - 399
Zepf@SonnenStromAG.de
www.SonnenStromAG.de