Phoenix Gets Order for 6.5 MW Solar Power Plant in Spain

Phoenix SonnenStrom AG signed an agreement yesterday with 60 affiliated companies of KG Allgemeine Leasing GmbH & Co. (KGAL) for the construction of turnkey solar power plants with a total output of 6.5 megawatts (MW).

The project, developed by the Phoenix Group with a Spanish partner, has an order volume of Euro 37 million [US$29 million]. It is the company’s largest project to date. “This project and other megawatt projects of our Spanish subsidiary Phoenix Solar S.L., which are currently under negotiation, will enable the Phoenix Group to expand its market share in Spain significantly this year,” said Dr. Andreas Hanel, CEO of Phoenix SonnenStrom AG. The 6.5 MW solar power plant will be constructed near La Solana in Castilla de la Mancha. The construction team, managed by Phoenix SonnenStrom AG, will install around 40,000 polycrystalline modules on a surface area of 21 hectares. The specific plant yield of this region of Spain is more than 1,500 kWh/kWp, which corresponds to an expected yield of around 9.8 million kilowatt hours a year. Construction work is planned for May 2007, and the plant is to become operational by the end of 2007. The La Solana project is the fourth solar park that Phoenix SonnenStrom AG will build to turnkey completion on behalf of KGAL. KGAL is planning to launch a closed fund, which exclusively targets German investors. With Spain currently the second largest market in Europe with an installed output of around 45 MW in 2006, after Germany with about 750 MW. Phoenix SonnenStrom AG anticipates that the Spanish market volume will double or even triple in 2007.
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