Phoenix Solar inaugurates two PV sites with 18 MW total capacity

(ADPnews) - May 24, 2011 - German photovoltaic (PV) system integrator Phoenix Solar AG (ETR:PS4) Friday cut the ribbon on two solar power sites with a combined capacity of 18 MW in Jocksdorf and Preschen, eastern Germany.

The new solar power systems, located on a former military airbase, are separated by a three-kilometre (1.8-mile) runway and belong to different neighbouring municipalities. Taken into operation in 2010, they are planned to supply green electricity to over 4,300 households.

The projects were financed by local investment firm KG Allgemeine Leasing GmbH & Co (KGAL). Phoenix Solar has been building PV power plants for KGAL since 2005. All orders fit a framework agreement inked between the companies in 2007. Extended in 2009, the deal calls for the realisation of solar projects with a minimum investment volume of EUR 525 million (USD 737m) in the period from 2009 to 2012.

(EUR 1.0 = USD 1.403)

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