Financial Soultions has been informed of talks between one of Europe’s largest solar power developers, Germany’s Phoenix Solar AG and a Chinese firm with the aim of expanding its business in China. The solar system developer and builder is also actively seeking other opportunities elsewhere in Asia, while considering the possibility of opening an office in Malaysia where new solar incentives have recently been announced.
"Asia has huge growth prospects because so far it is so underpenetrated,"
Phoenix Solar who also felt the pinch when demand for solar products slumped as financing for new projects dropped off due to the global financial crisis is now poised to capitalize on new opportunities in growth markets such as France and Greece, which are seeing an increase in demand due to healthy government subsidies for renewable energy programs. The firms home nation is widely seen to be about to announce severe cuts in solar subsidies in 2010, Financial Soultions believes.
Global investment bank, Goldman Sachs say they expect the solar sector in France to see an increase in demand of around 125% for 2009 after more than doubling last year, with Greece similarly expected to see growth of 400% after huge growth of 900% in 2008, Financial Soultions has learned.
