Phoenix Solar AG to Build 3 MW Solar Plant in Germany

Phoenix Solar AG, which went by the name of Phoenix SonnenStrom AG until mid-June, is set to build a solar electricity plant for the British investor, Consensus Business Group (CBG). The London-based direct investor is expected to buy a turnkey photovoltaic plant from Phoenix Solar with a peak power output of 3 megawatt (MW). The site chosen for the plant is Longuich near Trier in Germany.

“In our view, renewable energies are an extremely high-growth market, and we have already invested more than USD 500 million in our technology program,” said Vincent Tchenguiz, Chairman of CBG. “More funds totaling an annual USD 250 million are to follow. We are delighted that such a reputable company as Phoenix Solar AG is to partner [with] us in the 3 MW photovoltaic project in Longuich. We intend to realize more projects together with Phoenix Solar AG in the future as well.”

Phoenix Solar will use its assembly system to construct the power plant with more than 45,000 thin-film modules made by the manufacturer First Solar. The Longuich plant is to generate more than 3 million kilowatt hours a year which will cover the annual needs of around 1,000 households with environmentally compatible electricity.

“Crucial to the growth of the global photovoltaic market is the fact that foreign investors have meanwhile also acknowledged the high potential of photovoltaics and are now investing in solar electricity plants. The demand of major investors for photovoltaic plants in Spain, Italy and Germany currently outstrips the availability of profitable locations”, stated Dr. Andreas Hänel, CEO of Phoenix Solar AG.

The owner of the surface area, which comes to 13 hectares is the Municipality of Longuich, has leased the land to CBG for a period of 25 years.

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