Phoenix Solar AG: market entry into Malaysia

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Phoenix Solar founds a company in Malaysia. Inauguration ceremony of a 169 kWp rooftop plant in Malaysia .

Sulzemoos []

Phoenix Solar Pte Ltd in Singapore, a subsidiary of TecDAX listed Phoenix Solar AG (ISIN DE000A0BVU93) based in Sulzemoos, Germany, has founded a subsidiary in Malaysia. The headquarters of Phoenix Solar Sdn Bhd are located in Kuala Lumpur. The company will develop and build turnkey ground-mounted and rooftop photovoltaic plants. The range of products and services also comprises stand-alone photovoltaic systems and building-integrated solar plants.

At the end of July, Malaysia’s Ministry of Energy announced the introduction of feed-in tariffs for photovoltaic plants from the year 2011 onwards. The National Renewable Energy Policy and Action Plan provides for an increase in the production of electricity from renewable energies from one percent to 5.5 percent by 2015. Under an official draft drawn up by the Malaysia Energy Centre, photovoltaic electricity is to be remunerated at a converted rate of around 21 to 44 eurocents per kilowatt hour over a period of 21 years, with an annual degression rate of eight percent for newly installed systems. Parliament is expected to consult on the National Renewable Energy Policy and Action Plan in October.

Phoenix Solar Pte Ltd, Singapore, has already completed two projects in Malaysia. On Friday 17 September, a rooftop plant with a peak power of 169 kilowatts (kWp), built on a surface area of 1,800 square metres on a factory building belonging to ixmation Malaysia in Penang, will be inaugurated. CIGS thin-film modules manufactured by Solyndra were used to build the plant, which is the first of its kind in Malaysia.

“ixmation provides assembly solutions for the solar industry, so it is natural that the new building would contain modern solar panels for energy generation. The cooperation with competent partners such as Phoenix Solar and Solyndra enhances technology solutions for the benefit of all involved”, stated Martin Pfister, CEO of ixmation group.

The second project of Phoenix Solar Singapore in Malaysia had already been completed before the end of 2009. A 71 kWp plant was built on the roof of the new headquarters of the Energy Commission of Malaysia in Putrajaya.

About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic system integrator. With total revenues of EUR 473 million, the Group achieved an EBIT of EUR 12.2 million in the financial year 2009. The company develops, plans, builds and takes over the operation of large-scale photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany and subsidiaries in Spain, Italy, Greece, France, Singapore, Malaysia, Oman, Australia and the United States of America, the Group currently has a workforce of more than 350 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and on the German TecDAX, Deutsche Börse AG’s technology index.

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