Centrosolar AG, a German provider of solar systems for homes and businesses, said it set up units in Southern Europe to increase sales in countries that have more sunlight.
``The Southern European market represents untapped potential with growth rates forecast to run into three figures,'' the company said in the statement. ``Yearly levels of sunlight are as much as twice the level in Germany.''
The company plans to export 50 percent of its products this year compared with 30 percent last year.
Shares of Centrosolar slipped 8 cents, or 0.7 percent, to 10.84 euros. They have risen 15 percent this year, compared with a 1.7 percent gain on Germany's benchmark DAX Index.
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