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Phoenix Solar to Build 32 MWp (dc) Solar Power Plant for Duke Energy

DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): Incoming
Orders
Phoenix Solar to Build 32 MWp (dc) Solar Power Plant for Duke Energy

25.09.2014 / 14:00

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Phoenix Solar to Build 32 MWp (dc) Solar Power Plant for Duke Energy

- Construction will start in 2015

San Ramon, California, and Sulzemoos, Germany, 25 September 2014 / Phoenix
Solar Inc., the San Ramon, California, based subsidiary of Phoenix Solar AG
(ISIN DE000A0BVU93), an international photovoltaic system integrator that
is listed on the Prime Standard of the Frankfurt Stock Exchange, today
announced it has signed an agreement for the full engineering, procurement
and construction (EPC) services for a 32.1 MWp dc (23 MW ac) ground mounted
solar photovoltaic system in Bladen County in North Carolina.

The project will be financed and owned by Duke Energy, which earlier this
year issued a 300 MW (ac) Request For Proposals (RFP). Under the RFP Duke
Energy solicited offers to either buy electricity via power purchase
agreements or purchase power plants directly. The Fayetteville project was
developed by Tangent Energy who has partnered with Phoenix Solar to offer
Duke Energy a complete turn-key solution in the context of the RFP. Under
the terms of the agreement, Phoenix Solar will deliver engineering
services, procure components and construct the entire PV facility. Onsite
construction activities are expected to start in early 2015.

Dr. Murray Cameron, CEO and President of Phoenix Solar, Inc. says: "Working
together with Duke Energy demonstrates our ability to provide cost
effective and high quality projects. Our team of energy experts is looking
forward to building this project and further strengthen our position in the
South-East of the United States."

Dave Turner, Chief Operating Officer of Tangent Energy Solutions commented:
"Partnering with Phoenix Solar was the right strategic decision for us. The
global construction experience the team brought to the table fit perfectly
with our Demand Design PLUS(TM) offering and was key in building the level
of comfort a sophisticated utility like Duke Energy is seeking in its
partners."

Duke Energy is the largest electric power holding company in the United
States serving approximately 7.2 million US customers.

About Phoenix Solar AG
Phoenix Solar AG, which is based at Sulzemoos, near Munich, Germany, is an
internationally operating photovoltaic system integrator. The Group