DGAP-News: Phoenix Solar to build Singapore's largest PV system
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Phoenix Solar to build Singapore's largest PV system
25.09.2013 / 10:30
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Phoenix Solar to build Singapore's largest PV system
- C M M Marketing Management Pte Ltd, the distribution arm of Sheng Siong
Group Ltd, to cover rooftop of its HQ with PV modules
- Solar PV proves commercial viability in Singapore
Sulzemoos, 25 September 2013 / Phoenix Solar Pte Ltd., the Singapore 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, will design and construct a photovoltaic (PV)
system with a rated capacity of at least 1.2 MWp for C M M Marketing
Management Pte Ltd ('CMM'), a wholly-owned subsidiary of mainboard-listed
holding company, Sheng Siong Group Ltd ('Sheng Siong').
CMM selected Phoenix Solar to build the PV system on its corporate
headquarters and centralised distribution centre at 6 Mandai Link ('CMM
Facility'). The PV system will occupy an area of approximately 11'000 m²(or about 118'400 square feet), exploiting its available roof area to the
fullest extent. Upon completion within the year, this will be the largest
PV system in Singapore.
The PV system is expected to start producing green energy by the end of
2013, and supply at least 15 percent of CMM Facility's electricity
consumption. It will also mitigate at least 730 metric tonnes per year of
CO2 from Singapore's gas-fired power stations.
'The commercial and environmental returns of this project make it a viable
business decision, which will continue to yield benefits for a long time,'
affirms Lim Hock Chee, CEO of Sheng Siong.
This project illustrates a new trend in Singapore, where demand for bigger
PV systems is growing. Massive increases in global PV module production
capacity have driven costs so low in the last two years that an industrial
rooftop PV system in Singapore now pays for itself in 7 - 10 years,
resulting in an unlevered project IRR of 8 to13 percent.
'Thanks to the attractive returns on investment, we expect the installed PV
capacity of Singapore to more than double in 2013, reaching at least 20
megawatt by December,' says Christophe Inglin, Managing Director of Phoenix
Solar. 'If this growth rate continues, then within a decade, PV will become
a mainstream source of electricity in Singapore,' he added.
Bernd Köhler, CEO of Phoenix Solar AG adds: 'Setting out from its basis in
Singapore Phoenix Solar has been able to accomplish an excellent reputation
and a good market position in considerable parts of Southeast Asia. The
success of our local team is one of the cornerstones of our corporate
strategy.'
About Phoenix Solar AG
Phoenix Solar AG, which is based at Sulzemoos, near Munich, Germany, is an
internationally operating photovoltaic system integrator. The Group
develops, plans, constructs and assumes operational management of large
photovoltaic power plants, and is a specialist wholesaler for complete
solar electricity systems, solar modules and related equipment. With its
subsidiaries on three continents, the company has sold solar modules with
an output of well over one gigawatt worldwide since it was founded. The
shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the Regulated
Market (Prime Standard) of the Frankfurt Stock Exchange.
www.phoenixsolar-group.de
Contact:
Phoenix Solar AG
Dr. Joachim Fleing
Investor Relations Representative
Tel.: +49 (0)8135 938-315
Fax: +49 (0)8135 938-399
j.fleing(at)phoenixsolar.de
www.phoenixsolar-group.com
End of Corporate News
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25.09.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Phoenix Solar Aktiengesellschaft
Hirschbergstraße 8
85254 Sulzemoos
Germany
Phone: +49 (0)8135-938-000
Fax: +49 (0)8135-938-099
E-mail: kontakt(at)phoenixsolar.de
Internet: www.phoenixsolar-group.de
ISIN: DE000A0BVU93
WKN: A0BVU9
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München (m:access), Stuttgart
End of News DGAP News-Service
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231770 25.09.2013
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Unternehmensinformation / Kurzprofil:
Datum: 25.09.2013 - 10:30 Uhr
Sprache: Deutsch
News-ID 299944
Anzahl Zeichen: 6094
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Kategorie:
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