Phoenix SonnenStrom Founds Subsidiary in Singapore

With the founding of Phoenix SonnenStrom AG’s new subsidiary in Singapore, the solar company enters the Asia-Pacific market, continuing its international expansion. By the year 2010, the company expects business generated outside Germany should contribute more than 50 percent to consolidated sales.

Phoenix Solar Pte Ltd, with headquarters in Singapore, will be responsible for developing and building projects in the solar power plant sector throughout the whole Asian-Pacific region and for distributing photovoltaic components and systems. The range of products and services offer both grid-connected solar electricity plants as well as stand-alone photovoltaic systems. According to forecasts of the European Photovoltaic Industry Association (EPIA), the Asian market (including Japan) will make up around a third of the global market in 2007, positioning this region well ahead of the U.S. Phoenix Solar Pte Ltd will be managed by Christophe Inglin, a photovoltaic specialist who, over the past ten years as Managing Director of Shell Solar Pte Ltd, implemented grid-connected solar electricity projects in Thailand, Malaysia, China, Hong Kong and Singapore as well as off-grid systems, in China, Indonesia and Thailand. He, his director colleagues and another shareholder own 25 percent in the newly founded company; Phoenix SonnenStrom AG holds the other 75 percent.
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