Phoenix Solar expects further growth in 2009; targets 60% thin-film installation

Facebook
Twitter
LinkedIn
Reddit
Email

Despite a major fall-off in installations in the fourth quarter of 2008 due to the early onset of winter in Germany, a complete end of projects in Spain and large-scale project finance difficulties due to the financial crisis, Phoenix Solar AG posted record sales for 2008, reaching €402 million, compared to €260 million in 2007. Based on its current backlog, the PV systems integrator expects sales to reach approximately €520 million in 2009.

Phoenix Solar has experienced a CAGR of 78% since 2000 and expects to increase its business outside of Germany to more than 35% of revenues in 2009 and 50% by the end of 2010. In the long term, Phoenix Solar plans overseas sales to reach approximately 65% by the end of 2013.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

A key part of the growth strategy would seem to be the emphasis on thin-film technologies. Phoenix Solar was one of the first integrators to offer thin-film modules from First Solar, which has seen its thin-film product mix grow from 21.5% of installations to 57.2% in 2008. Phoenix Solar’s thin-film product mix is expected to further increase to approximately 60% in 2009.

Thin-film technology agnostic Phoenix Solar has secured long-term supply contracts with a host of players that include start-ups such as Signet Solar (50MW, 2008-2011), which uses Applied Materials’ ‘SunFab’ technology, and Solyndra in a deal worth €450 million in the same timeframe.

The company expects power plant projects to resume growth in 2Q09 and installations to peak in 4Q09, returning to normal seasonal trends after the disruption in Spain, which caused an installation peak in 3Q08 due to feed-in tariff changes and a new MW cap being imposed.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA