Phoenix Solar E.P.E., the Greek subsidiary of Phoenix Solar, will construct a 2MW grid-connected photovoltaic plant in the vicinity of Nafpaktos, central Greece for Greek investment group, Douneika Energy EE. The project was developed by the investors with the assistance of Athens-based Phoenix Solar E.P.E., and is financed by an unnamed Greek bank. This is Phoenix Solar E.P.E.’s largest contract to date.
The Douneika Solar Park, which is being built using crystalline modules on around six hectares, is anticipated to generate an annual energy yield of 2.9 million kilowatt hours.
“The solar market in Greece will come to around 110MW in 2010, with the majority of the capacity in medium size systems,” said Dr Christos Protogeropoulos, general manager of Phoenix Solar E.P.E.
“In 2011, we estimate that the Greek solar market will grow to a volume of some 200MW. Our intention is to contribute to boosting this growth in the years ahead. To this end, we will be drawing on our project pipeline with solar projects in the double-digit megawatt range. The legal framework conditions here in Greece are stable and, in the meantime, German as well as Greek banks have financed photovoltaic projects in Greece,” concluded Protogeropoulos.