Phoenix SonnenStrom AG Establishes Subsidiary in Spain

Sulzemoos, Germany [] To expand the existing sales activities of Phoenix SonnenStrom AG in Spain and to develop the Portuguese market, the company has founded Phoenix Energia Solar S.L., a subsidiary in Madrid, Spain. Phoenix SonnenStrom AG expects business will grow on the Iberian peninsula, as the Feed-in-Tariffs for solar energy in Spain were put on a legal basis in the spring of 2004, creating more attractive conditions compared to the German law on renewable energies, the release states. According to ASIF, the Spanish solar association, a market volume in grid-connected plants was 17 megawatt peak in 2005. With its current sales activities in Spain, Phoenix SonnenStrom AG has already won a market share of around 8 percent.
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