News Article
Phoenix Increases Agreement By 150 Million
Phoenix Solar AG raises the volume of and extends the framework agreement with KGAL
Phoenix Solar has raised the volume of the framework agreement signed in September 2007 with KG Allgemeine Leasing GmbH & Co. (KGAL) by at least EUR 150 million and extended it through the year 2011.
The parties to the contract have agreed that the Phoenix Solar Group will develop large photovoltaic plants on behalf of KGAL and build them in the capacity of general contractor. The investment volume over the period from 2009 to 2011 is now worth a minimum of EUR 375 million. The target markets for the construction of the power plants are Germany, Spain, Italy, Greece and France and, in future, other countries where the economic conditions are also suitable.
The parties to the contract have agreed that the Phoenix Solar Group will develop large photovoltaic plants on behalf of KGAL and build them in the capacity of general contractor. The investment volume over the period from 2009 to 2011 is now worth a minimum of EUR 375 million. The target markets for the construction of the power plants are Germany, Spain, Italy, Greece and France and, in future, other countries where the economic conditions are also suitable.
