Germany’s KG Allgemeine Leasing (KGAL) and Phoenix Solar, a
photovoltaic technology group, have extended for three more years
an agreement to develop power plants.
Under the new framework agreement, the Munich-headquartered
company will develop and build a number of photovoltaic power
plants for KGAL across Europe – particularly in Germany,
Southern and Eastern Europe.
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The company will also undertake the maintenance and repair of
the plants.
The two companies first signed a partnership in 2007. With the
new agreement, the minimum contractual volume envisaged between
2009 and 2012 now increases to €525 million.
Klaus Wolf, a member of KGAL’s board of directors, commented:
“In Phoenix Solar we have found a partner that is able to stabilise
the profitability of a plant through its asset know-how and give
our investors a strong financial return.”
Antonio Fabrizio
