Phoenix Solar Signs Contract with Silicon Ranch to Build 38.6 Megawatt Solar Electricity Plant in Georgia - State's Largest

 Phoenix Solar Signs Contract with Silicon Ranch to Build 38.6 Megawatt Solar
                Electricity Plant in Georgia - State's Largest

- Construction started at Simon Solar Farm, outside Atlanta

PR Newswire

SAN RAMON, Calif., July 8, 2013

SAN RAMON, Calif., July8, 2013 /PRNewswire/ --Phoenix Solar Inc.
(www.phoenixsolar.com), the U.S. subsidiary of Phoenix Solar AG, today
announced it signed a contract with Silicon Ranch Corporation
(www.siliconranchcorp.com) to build a 38.6 megawatt solar plant called Simon
Solar Farm in Georgia. Upon completion, the installation will be the largest
utility-scale solar power facility in the state and the largest solar
installation in the 14-year history of Phoenix Solar.

Construction, which has already begun at Simon Solar Farm outside Atlanta, is
scheduled for completion by the end of 2013. Simon Solar Farm is expected to
generate enough clean power every year to charge a fleet of 10,000 electric
vehicles with enough electricity for each to be driven 20,000 miles.

Under the terms of the contract, Phoenix Solar Inc. will provide all
engineering, procurement and construction (EPC) services to Silicon Ranch to
realize the ground-mount solar park on 161 acres at the Simon Solar Farm,
about 30 miles east of Atlanta, the state capital. Phoenix Solar will also
provide long-term operations and maintenance (O&M) support for the solar park.
Silicon Ranch closed its construction financing facility last month.

The high-profile solar project further demonstrates Phoenix Solar's commitment
to move its operational focus to high-growth regions, including the U.S. and
Asia.

Georgia Power, the state's largest electrical utility, has agreed to buy the
electricity generated from the solar park under a 20-year Power Purchase
Agreement (PPA) with Silicon Ranch. Silicon Ranch procured the first large
scale solar PPA in December 2011 as part of the 50 Megawatt solar purchase
authorized by the Georgia Public Service Commission (PSC). Following the
success of this initial solar procurement initiative, Georgia Power has since
created the "Advanced Solar Initiative", a voluntary program initiated in 2012
aimed at purchasing 210 megawatts of additional solar generating capacity.

Phoenix Solar is deploying modules from JA Solar at the solar park, and will
utilize SMA inverters and Unirac mounting systems. Site work has already begun
at Simon Solar Farm, which was a cotton farm several decades ago.

The Simon Solar Farm is yet another example of the strategic partnership
between Silicon Ranch and Phoenix Solar that has resulted in the construction
of several solar power facilities in the Southeast, including the largest
solar installation at a U.S. auto plant, namely the LEED Platinum-certified
Volkswagen factory in Chattanooga, Tennessee.

Matt Kisber, President and CEO of Silicon Ranch, said, "Silicon Ranch is proud
to be building the largest solar development in Georgia and we look forward
toproducingclean, renewable electricity at this facility before the end of
this year. This project will further develop Georgia's position as a leader in
the adoption of clean, renewable solar power and I commend the Georgia PSC and
Georgia Power for their leadership. The strategic partnership with Phoenix
Solar has allowed us to accelerate the timetable for bringing this project on
line this year," added Mr. Kisber.

Dr. Murray Cameron, CEO and President of U.S.-based Phoenix Solar Inc., said,
"The Simon Solar installation represents a giant step forward for the adoption
of solar power in Georgia and the entire Southeast, and we are proud to be
playing a key role in the region. Upon completion of the Simon Solar project,
Phoenix Solar will have installed approximately 50 megawatts of solar power
facilities in this region as part of our strategic partnership with Silicon
Ranch. I am proud that the professionalism, diverse skills and commitment of
our US team has resulted in Phoenix Solar being awarded this contract."

Dr. Bernd Kohler, Chief Executive Officer of Phoenix Solar AG, said, "Phoenix
Solar AG underlines that the Simon Solar project is among the strategic
projects which will contribute to its planned increase of Group revenues to
between EUR160 mn and EUR190 mn in 2013. Being selected to develop the Simon
Solar project reaffirms our company's strong commitment to focus on
international growth markets, including North America and Asia."

About Phoenix Solar AG

Phoenix Solar AG (www.phoenixsolar-group.com) is an international photovoltaic
system integrator headquartered in Sulzemoos near Munich. The Group develops,
plans, builds and operates large-scale photovoltaic plants and is a specialist
wholesaler for turnkey power plants, solar modules and accessories. With
subsidiaries on three continents, the company has sold solar modules with an
output of significantly more than one gigawatt since its founding in 1999. The
shares of Phoenix Solar AG) are listed on the official market (Prime Standard)
of the Frankfurt Stock Exchange. 

About Phoenix Solar Inc.

Established in California in 2010 as the U.S. subsidiary of Phoenix Solar AG,
Phoenix Solar Inc. (www.phoenixsolar.com) is a leader in the design,
construction, operation and maintenance of solar photovoltaic power plants in
North America. The company's technology-neutral approach allows us to
objectively provide the best solar solutions for our customers. 

About Silicon Ranch

Silicon Ranch Corporation (www.siliconranchcorp.com) was formed for the
purpose of developing and operating utility-scale solar facilities. What
distinguishes Silicon Ranch from other solar developers is its ability to
deliver a green energy solution that addresses the environmental, business and
work force issues associated with successfully expanding solar capacity and
green jobs.

Media contacts: 

Simon Decker  .
 
Phoenix Solar Inc.
s.decker@phoenixsolar.com
Tel: 925-309-9163

Matt Kisber
Silicon Ranch Corp
matt.kisber@siliconranchcorp.com 
Tel: 615-577-4786

Investor contact:
Dr. Joachim Fleing
Investor Relations Representative
Phoenix Solar AG
j.fleing@phoenixsolar.de
Tel.: +49 8135 938-315
Fax: +49 8135 938-399

SOURCE Phoenix Solar Inc.

Website: http://www.phoenixsolar-group.com
 
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