Phoenix Solar AG to Build Plants in Spain for U.S. Investor

Phoenix Solar AG has signed a general contractor agreement with a U.S.-based investor to build of two solar power plants in Spain. The ground-mounted power plants will have a capacity of approximately 4.7 megawatts (MW) in total. The contract represents approximately EUR 21 million [US $31.5 million].

Phoenix Solar AG will build the plants using thin-film modules from First Solar. Construction work is due to start soon, and completion has been scheduled for July of 2008.  
 
“We are very proud to have convinced an American investor of our know-how in the construction of ground-mounted photovoltaic plants in the megawatt class. This contract has brought us a step further in widening our investor basis,” said Dr. Andreas Hänel, CEO of Phoenix Solar AG.

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