Phoenix Solar AG and MiaSole Sign Multi-Year Framework Agreement for the Delivery of Thin-Film Solar Modules

SANTA CLARA, Calif., April 27 /PRNewswire/ -- Phoenix Solar AG, a leading photovoltaic system integrator listed on the TecDAX, has signed a framework agreement with MiaSole, a leading manufacturer of copper-indium-gallium-selenide (CIGS) thin-film photovoltaic solar panels based in Santa Clara, California. The agreement, which runs until 2013, enables Phoenix Solar to extend its product portfolio with another quality supplier capable of highly cost-efficient manufacturing. In the context of this agreement, Phoenix Solar has placed an order for an initial 4.5 MWp of thin-film modules from MiaSole for delivery in the second quarter of 2010.

MiaSole's innovative production process applies different layers of copper, indium, gallium and selenium on a metal foil. This substrate is divided into cell-like sections and laminated between two hardened glass plates. The frameless glass-glass module can be used for roofs, as well as for ground-mounted systems, and can withstand high wind and snow loads. The innovative production process allows for almost all module shapes to be manufactured, which increases the potential for saving costs on balance of systems equipment.

In the laboratory CIGS technology has already achieved the highest conversion efficiency amongst all commercial thin-film technologies. The current conversion efficiency of the MiaSole module is 10.5 percent, with higher efficiency product to be shipped at the end of 2010.

The framework agreement also includes a recycling warranty where required by regulation or financing: At the end of the lifetime of the solar modules the customer has the option of having them taken away by MiaSole and recycled or reconditioned.

"Phoenix Solar has always sought to lead the field in innovations in all aspects of system integration from the module, through balance of system to operation & maintenance services. We welcome MiaSole to our group of strategical suppliers with whom we work closely to extract maximum synergy effects as a means of continuously driving down system costs," said Manfred Bachler, Chief Technology Officer at Phoenix Solar AG.

"We are excited to enter a long-term customer relationship with a leading global solar player like Phoenix Solar," said MiaSole President and CEO Joseph Laia. "MiaSole's products are among the most efficient, affordable and reliable products available today, and we're pleased that we been selected for this multi-year agreement."

This is an English translation of the German original. Only the German version is binding.

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About Phoenix Solar AG

Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a leading international photovoltaic system integrator. The Group achieved total revenues of EUR 473 million and an EBIT of EUR 12.2 million in the financial year 2009. The company develops, plans, builds and takes over the operation of large-scale photovoltaic plants and is a specialist wholesaler for complete power plants, solar modules and accessories. The Group is a leader in photovoltaic system technology. It focuses on the consistent lowering of system costs. With a sales network throughout Germany, and subsidiaries in Spain, Italy, Greece, France, Singapore, Oman and Australia, the Group currently has a workforce of more than 300 employees. The shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange and on the TecDAX, Deutsche Borse AG's technology index.

About MiaSole

MiaSole is a pioneer and leading developer of Copper Indium Gallium Selenide (CIGS) thin-film photovoltaic solar panels, one of the lowest-cost, highest efficiency solar panels in the world. MiaSole's primary mission is to advance the extraordinary potential for harnessing solar power as a competitive, sustainable energy source and enable grid parity by 2012. Based in California, MiaSole currently operates two manufacturing facilities with plans to open a third facility in 2011. Learn more at www.miasole.com.

SOURCE Phoenix Solar AG