June 4, 2009

Sulzemoos, Germany: Phoenix Solar Extends Cooperation with Bürgerservice Trier

Phoenix Solar Energy Investments AG, a wholly owned subsidiary of Phoenix Solar has signed a cooperation agreement for another two years with Trier-based Bürgerservice GmbH.

The contractual content is the project development of photovoltaic power plants with a total value of some EUR 100 million during 2010 and 2011. Bürgerservice's task in this cooperation is to develop large photovoltaic projects initially in Germany, with the focus on Trier and its environs, and in France.

The projects, developed through to the construction commencement stage, are to be offered exclusively to Phoenix Solar. Upon successful acceptance, Phoenix Solar will offer the solar parks to financial investors and build them in its capacity as general contractor.

Once they have been commissioned, Phoenix Solar will take over the operation and remote monitoring of the plants for the buyer. Bürgerservice will be responsible for site maintenance and local technical support. Phoenix Solar and Bürgerservice have already successfully completed a number of projects.

In February 2008, the two contractual partners signed their first cooperation agreement on the project development of large photovoltaic projects similarly with a value of approximately EUR 100 million and a term until 31 December 2009. To date, this agreement has resulted in solar parks with a peak output of around 15 megawatts built by Phoenix Solar. There are plans for the implementation of other projects this year as well.

“We are delighted to have found in Bürgerservice Trier a reliable partner with whom we want to continue to complete successful projects”, commented Ralph Schneider, member of the Board of Directors of Phoenix Solar Energy Investments AG.

Also in the case of the current solar park project in Kenn, which has a peak output of 5.8 megawatts, the exceptionally good network of Bürgerservice Trier has proved an advantage. Horst Schneider, Managing Director of Bürgerservice, continues: ”by partnering with Phoenix Solar, Bürgerservice can expand its commitment to renewable energy with the goal of creating new jobs in the region.”

Further details about: Phoenix Solar