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Phoenix Solar AG founds subsidiary in Oman

Phoenix Solar AG, a leading photovoltaic system integrator listed on the TecDAX, has founded Phoenix Solar L.L.C. in Muscat which is the capital city of the Sultanate of Oman. Phoenix Solar AG holds 70 percent and Silver Circle Overseas L.L.C. (SCO), its local partner in Oman, 30 percent in Phoenix Solar L.L.C. The newly founded company will realise solar projects in Oman and in the Gulf States.

The business model of Phoenix Solar L.L.C. is focused on the planning and turnkey construction of ground- and roof-mounted photovoltaic systems which are either grid-connected or stand-alone.

Silver Circle Overseas has been operating in Oman since 2005, and concentrates its business activities on renewable energies as well as tourism-related and industrial projects. SCO is a company of the Royal Family of Oman and operates throughout the whole Gulf region. Together with SCO, Phoenix Solar has already participated in two tenders for photovoltaic projects in Oman.

With its entry into the Gulf region, Phoenix Solar has positioned itself at an early stage in a high-growth market with excellent solar irradiation. The Oman government is already planning the transition away from conventional sources of energy to renewable energies. In 2007, the regulatory authority (AER) commissioned COWI A/S, a company based in Denmark, to carry out a feasibility study in cooperation with SCO on the potential of renewable energies in Oman. Huge potential was ascertained, above all for sun and wind energy, and recommendations for photovoltaics and wind pilot projects were drawn up and have been consistently implemented since then.

The Managing Director of Phoenix Solar L.L.C. is Klaus Friedl. The 42-year old German national has worked intensively in the field of renewable energies in Oman since 2006. Dr. Torsten Hass, Executive Vice President Solar Energy Investments of Phoenix Solar AG, will assume the function of Deputy Chairman of the Board of Directors of Phoenix Solar L.L.C, alongside Chairman H.E. Sayyid Salem bin Musallam Al-Bussaidi. Moreover, Phoenix Solar L.L.C. will work closely together with the Sultan Qaboos University and the Caledonian College of Engineering.

“We see great opportunities in our market entry into Oman and the Gulf States which is an area where the conditions for photovoltaics are ideal. In Silver Circle Overseas we are delighted to have found a competent and established partner that is excellently positioned in the region. This will enable us to deliver proof of our long-standing experience and know-how in the construction of photovoltaic power plants”, commented Ulrich Reidenbach, Chief Sales Officer of Phoenix Solar AG.

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