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Phoenix Solar AG extends contractor agreement with KGAL for €150 million
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KG Allgemeine Leasing GmbH & Co. (KGAL) has agreed to the extension of Phoenix Solar’s contract through to 2011 and the raising of the volume of the framework agreement by a minimum of €150 million. The agreement, signed in September 2007, states that the Phoenix Solar Group will continue to act as general contractor in the development and construction of large photovoltaic plants on KGAL’s behalf. The overall value of the investment from 2009 to 2011 is placed at at least €375 million.
The development contracts under discussion by the two companies are targeted for the German, Spanish, French and Greek markets, with a possibility for developments further afield where suitable from an economic perspective.
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