Phoenix Solar signs two-year cooperation agreement with Bürgerservice Trier worth €100 million

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Phoenix Solar AG’s wholly-owned subsidiary Phoenix Solar Energy Investments AG has extended its project development agreement with Trier-based Bürgerservice GmbH for a further two years. The agreement, which was finalised at Intersolar in Munich at the end of May, will see the construction of PV power plants with a volume worth approximately €100 million in 2010 and 2011.

Bürgerservice will develop the projects in the Trier region of Germany and in France, to be offered exclusively to Phoenix Solar. Phoenix will, following acceptance of the projects, offer the solar parks to financial investors and will build the plants in the capacity of general contractor, as well as acting as the site operators. Bürgerservice will be responsible for site maintenance and local technical support.

This extension of the agreement builds on the companies’ existing plan, which has led to the construction of approximately 15MW since the initial agreement was signed in February 2008. The original agreement was for a volume of approximately €100 million to run from February 2008 until December 31, 2009.

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