Phoenix Solar presents strong project pipeline

  • Weighted global project pipeline increases markedly to 444 MWp
  • Growth primarily driven by the US market
  • Oliver Gosemann und Hans-Gerd Füchtenkort re-elected as Members of the Supervisory Board - Oliver Gosemann continues as Chairman

The Executive Board of Phoenix Solar AG (ISIN DE000A0BVU93), an international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, presented a strong expansion of the project pipeline at the Annual Meeting of Shareholders of the company today. The weighted global project pipeline ("Short-listed" or higher) increased strongly to 444 MWp, up from 349.7 MWp as of end March 2017.This result was achieved despite the fact that a large project of 65 MWp was completed and therefore removed from the list. The latest expansion was primarily driven by the US market, where currently several large projects are in the late stage of negotiation. As a result, projects in the short-listed phase M3 rose from 88.4 to 240.4 MWp in 2Q2017.

“Our pipeline development in recent months demonstrates that measures to strengthen and accelerate sales are clearly starting to bear fruit. This means that Phoenix Solar will continue to play an important role in the international photovoltaic markets in 2017”, stated Tim P. Ryan, CEO of Phoenix Solar AG. "Of course while there is always some uncertainty in a weighted pipeline, we are confident that these recent developments represent a solid basis for achieving our revenue targets for the current fiscal year. We reaffirm our market guidance of March to increase revenues to a range of 160 to 190 mill Euro in 2017 (2016: 139.2 mill Euro). Indeed, in order to realize a strong second half 2017, it is now essential that we finalize contracts under negotiation and receive the green light to begin construction as planned."

In addition to the assessment of the financial year 2016, CEO Tim P. Ryan and Manfred Hochleitner (CFO) also offered detailed insights into the company’s strategy. Focus will remain on further building the pipeline and the global sales process, ensuring sustainable profitability and further enhancements of the company's activities along the solar value chain. Shareholders acknowledged the presentations and passed almost all items on the meeting’s agenda with a large majority. Only the motion to transition from bearer shares to registered shares was not accepted by the shareholders. Oliver Gosemann was re-elected as Chairman of the Supervisory Board, after being re-elected by the shareholders' meeting as member of the Supervisory Board, as well as Hans-Gerd Füchtenkort.

For the first time the meeting was broadcast on the Internet and shareholders were offered to cast their votes online. „Communication with our shareholders is important to us and we are willing to go that extra mile“, Hochleitner said. Transparency is key to achieving a fair valuation of the company and therefore assumes an important role for Phoenix. “Also on the basis of bearer shares, as before, we will enhance our activities aimed at communicating closely with our shareholders.”

The machinery consists of DESERT production machines for high-efficiency DESERT solar modules built specifically for extreme hot climate, such as can be seen in deserts or in tropical areas. Made solely in Germany and built using the latest in DESERT and TROPIC module production, the systems inlcudes all cutting-edge technology.

Certified DESERT solar modules, DESERT containers, DESERT power plants and DESERT manufacturing machinery built using pioneering DESERT and TROPICS technology are now fully set up, and ready to perform. But powering on the machinery has been a long time coming. Up until recently, this advanced piece of equipment had been waiting for clearance at a port in Brazil. Now that the formalities have been dealt with, both J.v.G. Thoma and its customer in Brazil can get production under way.

J.v.G. Thoma GmbH is a company whose vision has always been to harness the infinite power of the sun and convert it into an inexhaustible supply of energy. But a vision such as this requires global reach, and this project has opened new doors. Brazil is not only a gateway to South American cooperation, but also the launchpad to international reach and expansion.

Following the delivery of this initial order, J.v.G. Thoma GmbH will be looking forward to an ongoing collaboration with the Brazilian company. From setup and initial training to setting the scene for a ramp up, J.v.G. Thoma will be there to provide expertise and assistance. Moreover, the company will be jointly responsible, along with the client, for the successful integration of the DESERT solar module factory.

In the future, bigger DESERT power plants will be set up on Brazilian soil, and together with existing turnkey production systems, they intend to take up a large share of the products and assets this sector will possess locally. J.v.G. Thoma plans to build up a local network of sales agents that can extend a premium offering to neighbouring countries in South America. Eventually, the company hopes to be able to expand its customer base to clients in North America.

Hans Thoma, general manager from the Thoma-group, is eager to acquire a substantial market share in Brazil, a growing country with tremendous potential for solar energy output. Having complied with local official procedures (Inmetro, TÜV, Fraunhofer CSP) and cleared the way for future business collaboration, he expresses his hope that the solar industry will henceforth expand quickly.

”Being able to introduce Brazil to the infinite opportunities of a solar industry is a privilege for J.v.G. Thoma GmbH, and one that we are extremely grateful for. At the same time, this placed the ball squarely in our court, and the pressure to get the ball rolling quickly was high. Now that the lengthy initial formalities are out of the way, we can focus on making this project a success.“

The first DESERT solar module production in BRAZIL! Let
Source: Phoenix Solar AG