Phoenix Solar to Build 6.9 MWp Power Plant in Turkey

Sulzemoos, August 18, 2015 / Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed in Prime Standard of the Frankfurt Stock Exchange, and its partner Asunim Yenilenebilir Enerji Teknolojileri İnş. Müh. San. Tic. Ltd. Şti., a member of the Asunim group, have been jointly awarded an order by a Turkish consortium to build an array of six photovoltaic power plants with a total capacity of 6.9 MWp in the surroundings of the city of Kayseri in central Anatolia.

Phoenix Solar will carry out all engineering and procurement tasks. Asunim was already in charge of the earlier project development and will take on the actual construction, which includes mounting Yingli Solar modules and Advanced Energy string inverters. The location has already been prepared under the supervision of Phoenix Solar. Construction work is scheduled to begin immediately and to be completed by the end of 2015.

Gökce Bilyay, spokesman for the consortium, underlined: "We are proud to increase the share of renewable energy production in Turkey and thus contribute to a significant reduction of CO2 emissions with our Kayseri project. With Asunim and Phoenix Solar we are able to employ an experienced team with an impressive international and local track record and are looking forward to a successful cooperation."

"The Turkish market for large scale photovoltaic power generation is developing quickly", Tim P. Ryan, CEO of Phoenix Solar AG added. "Together with our partner Asunim we are well positioned to assist Turkish investors to capitalize on the economic and environmental advantages of solar power and will steadily expand our customer base in the Near and Middle East."

About Phoenix Solar AG
Phoenix Solar AG, that has its headquarters in Sulzemoos near Munich, is an international photovoltaic system integrator. The Group develops, plans, builds and operates large-scale photovoltaic plants and is a specialist wholesaler on a smaller scale 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. The stocks of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. www.phoenixsolar-group.com.

About Asunim Yenilenebilir Enerji Teknolojileri İnş. Müh. San. Tic. Ltd
Asunim is based in Ankara, turkey and operates as a consultant, reseller, project developer and EPC company with focus on project legalization, engineering, component supply and the execution of small and medium scale photovoltaic power plants in the Turkish market. It belongs to the Asunim group with current further subsidiaries in Portugal and the United Kingdom and further business in Chile, South Africa and Spain accumulating a current track record of 200MW solar module supply. www.asunim.com.tr.