Phoenix Solar Spain secures new contracts worth 20 million EUR

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A total of 4 megawatt peak power output in two locations
Spain becomes the most important foreign market for the Phoenix Solar Group

Sulzemoos/Madrid 2 August 2007 / Phoenix Solar S.L., the Spanish subsidiary of German Phoenix Solar AG, has secured contracts worth around EUR 20 million. The contracts cover the construction and turn-key completion of photovoltaic (PV) plants with a peak power of 4 megawatt (MW) in two locations in Spain.

Phoenix Solar has already completed a megawatt plant using the solar modules of First Solar in Jumilla (Murcia) which has been feeding into the public grid since the end of July. Nemesis Desarrollo S.L., the customer with headquarters in Pinoso, Alicante, has now placed orders for two more megawatts on the same site. Along with the planning and construction of the plant, Phoenix Solar will also take over the operation and maintenance of the plant. Nemesis Desarrollo owns the approximately 15-hectare site. The company owns a number of properties in the region and plans to invest more funds in solar electricity plants.

The follow-up contract for 2 MW will be constructed for the first time under the new Spanish feed-in law, which means that categorisation into plant sizes each of 100 kWp maximum has been abolished. The plant will be built in four units, each of 500 kWp, with four central inverters. The construction work will be carried out by the experienced construction team of the parent company.

Phoenix Solar is to undertake construction of another megawatt project for Madrid-based Sun Fund 5 S.L. The company is to build a plant with crystalline modules on a site of around 3 hectares in Alcolea de Tajo (Toledo). Sun Fund 5 also has experience in photovoltaic plants. A 1.2 MW PV plant with a tracking system has been built on the same site. Phoenix is to construct an extension to the plant on the site, using the assembly system for ground-mounted PV plants developed by Phoenix.

Spain is currently Europe’s second largest solar market, second to Germany, and might well overtake the USA as the world’s third-largest market this year. The expectations placed on the Spanish market in 2007 come to more than 200 megawatt according to information from different sources. The Spanish feed-in law offers attractive framework conditions, particularly for large-scale PV plants. The feed-in tariffs for plants of a size of 100 kWp up to 10 MWp are currently 41.75 ct/kWh and will be paid for 25 years. After this period, the feed-in tariff will be 80 % of what it was before. Along with the 6.5 MW La Solana project and the new contracts, the Spanish market has developed into the Phoenix Group's most important foreign solar market in 2007.

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 systems integrator. Until June 2007, the company, which was set up in 1999, went by the name of Phönix SonnenStrom AG. In the financial year 2006, the Phoenix Solar Group achieved sales of EUR 119 million in Germany and abroad. 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 130 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange.

Your contact:

Andrea Zepf
Press and Public Relations
Tel. +49 (0)8135 938 - 313
Fax +49 (0)8135 938 - 399
a.zepf@phoenixsolar.de

Phoenix Solar AG
Hirschbergstraße 8
D-85254 Sulzemoos
www.phoenixsolar.de