AE Photonics Founds AE Photonics Hellas in Greece

Dresden-based photovoltaics trading firm and project developer with office in Athens

Sep 14, 2011, 11:50 ET from AE PHOTONICS GROUP/PRN ASIA

DRESDEN, Germany, Sept. 15, 2011 /PRNewswire-Asia/ -- AE Photonics, a Dresden-based photovoltaic wholesaler and solar power-plant constructor opened an office in Athens in late August.

AE Photonics Hellas Ltd. is a 100% subsidiary of AE Photonics GmbH & Co. KG and is managed by Ilias Tsonis. Mr Tsonis is a qualified engineer with over 30 years' experience in managing wholesale establishments in Germany and Greece. He has worked exclusively in the photovoltaics industry for two years.

"Greece is the logical next step for us after Italy and Morocco: on the one hand due to the sunshine duration of almost 2,940 hours per year (cf. Italy and Germany), and on the other hand because, in 2004, Greece enacted a law promoting photovoltaic investments, planning an investment increase of up to 40 percent as a result of the relevant modifications (promotion law 3299/2004)", explains Marco Lamsouguer, founder and managing director of AE Photonics.

AE Photonics Hellas Ltd. will initially promote the distribution of modules and inverters in Greece; it will also enter project development business at a later date. The target groups for the first stage are specialised electronics companies, electricians, architects and project developers.

About AE Photonics

AE Photonics GmbH & Co. KG was founded in 2008 and comprises two business divisions: whole sale for photovoltaic components and project development for photovoltaic systems. The company achieved just under 100 million Euros in sales in 2010. AE Photonics employs 25 staff at its head office in Dresden and also has branch offices in Italy and Morocco.

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SOURCE AE PHOTONICS GROUP/PRN ASIA