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Phoenix Solar AG with strong year-end rally

Record sales in November in the Components & Systems segment 16 photovoltaic power plants under construction Phoenix Solar AG’s largest solar park to date being built on a military land for redevelopment

Sulzemoos, 3rd December 2009 / Phoenix Solar AG, a leading photovoltaic system integrator listed on the TecDAX, is experiencing a strong year-end rally, following a weak third quarter. The Components & Systems segment was very successful in October and November, generating around EUR 65 million in the month of November alone, which is the highest monthly revenue recorded in the history of the company. Phoenix Solar is currently building 16 solar parks in its Power Plants segment. The outlook for the first quarter of 2010 is also positive: preparations are already under way for solar parks in Germany and abroad with a total peak output of more than 30 megawatts (MWp).

Among the solar parks currently under construction is the largest solar power plant ever built by Phoenix Solar with a peak power output of 8 MW. The photovoltaic power plant is being built in Jocksdorf near Cottbus on military land earmarked for redevelopment. The assembly teams are in the process of installing approximately 105,000 solar modules of First Solar on around 30 hectares of land which was formerly a military airbase.

Alongside the power plant in Jocksdorf, three other solar power plants totalling 14 MWp are being built in fulfilment of the framework agreement with KG Allgemeine Leasing. This framework agreement was only recently extended in September to EUR 525 million through to the year 2012.

“Our construction teams are currently very busy”, commented Dr. Andreas Hänel, Chief Executive Officer of Phoenix Solar AG, “and we hope that the weather will remain mild for as long as possible so that we can build through to the end of December, even if some megawatt projects will certainly only be completed in the first quarter of 2010”.

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