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Phoenix Solar awarded an EPC contract for a 1.5 MWp PV project on behalf of Jordan Ahli Bank

DGAP-News: Phoenix Solar Aktiengesellschaft / Key word(s): Incoming Orders
Phoenix Solar awarded an EPC contract for a 1.5 MWp PV project on behalf of
Jordan Ahli Bank

15.11.2016 / 09:05
The issuer is solely responsible for the content of this announcement.

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Phoenix Solar awarded an EPC contract for a 1.5 MWp PV project on behalf of
Jordan Ahli Bank

- Pioneering project in the Jordanian banking sector under the "Power-
Wheeling"-regulation

Sulzemoos, November 15th, 2016 / Phoenix Solar Overseas GmbH, a 100 per
cent subsidiary of Phoenix Solar AG (ISIN DE000A0BVU93), a leading
international photovoltaic system integrator listed on the official market
(Prime Standard) of the Frankfurt Stock Exchange, and its partner Al Rokh,
a subsidiary of Millennium Energy Industries (MEI), have been jointly
awarded an order to build a 1.5 MWp power plant on behalf of Jordan Ahli
Bank.

Jordan Ahli Bank, with headquarters in Amman, is one of the pioneering
financial service providers to make use of the Jordanian "Power-Wheeling"-
regulation. This innovative approach allows power generation in a location
different from the consumption site, and is part of the Renewable Energy
regulatory framework implemented in Jordan. This will enable Jordan Ahli
Bank branch offices throughout the Hashemite Kingdom to use the electricity
as generated by the photovoltaic power plant in a remote location.

Phoenix Solar will carry out all engineering, procurement and project
management tasks while Al Rokh will take on the actual construction works.
Phoenix Solar will also be responsible for the operation and maintenance of
the power plant. During construction consulting firm E-Res Energy will act
as representative of the Bank and Technical Supervisor.

Klaus Friedl, Vice President Sales Middle East at Phoenix Solar Overseas
GmbH, underlined: "The Kingdom of Jordan continues to offer excellent
conditions for companies to invest in renewable energy. The wheeling
regulation in particular is very attractive for commercial consumers.
Hotels, banks, hospitals and other businesses intend to invest in
photovoltaic power plants to reduce their running costs. Together with our
partners we already enjoy an excellent reputation for high quality delivery
on time and on budget. This makes us confident that we will continue to
expand our customer base and sales pipeline to further drive our growth in
the region."

E-Res' Managing Director, Umberto Albarosa, said: "The project reflects the