Phoenix Solar eyes partner in China


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Phoenix Solar Asia expansion targets Malaysia with feed-in tariff incentives, renewable energy subsidies, and photovoltaic market growth across China, France, and Greece, leveraging clean energy demand in underpenetrated Asia Pacific solar markets.

 

What's Behind the News

Phoenix Solar's push to grow in Asia, eyeing Malaysia on feed-in tariffs, boosting PV sales via subsidies.

  • Malaysia office possible if incentives align
  • Asia underpenetrated; strong renewable growth potential
  • France and Greece demand rising on state subsidies
  • China near 500% growth; partnership talks underway

 

Phoenix Solar AG, one of Europe's largest solar power developers, is in talks to partner with a Chinese firm to push its business in China, said a company executive.

 

The German solar systems builder is also looking for opportunities elsewhere in Asia and may open an office in Malaysia, which recently announced a plan to offer new solar incentives.

"Asia has huge growth prospects as the solar outlook brightens across the region because so far it is so underpenetrated," Christophe Inglin, Phoenix's managing director for Asia Pacific, told Reuters on the sidelines of a clean energy conference in Singapore.

"We will definitely open an office in a country like Malaysia if the right conditions are in place," he said.

Malaysia earlier announced a plan to implement a feed-in tariff like Germany to enable users to invest in solar systems and sell excess power to the grid.

Like most in the sector, Phoenix was not immune to the collapse in demand for solar products amid an industry shakeout favoring equipment makers after funding for projects turned scarce. But the company is set to take advantage of opportunities in growth markets including France and Greece, where state subsidies are driving demand.

That contrasts with Germany, Phoenix's biggest market, where a recent solar power boost coexists with expected new cuts in subsidies next year.

Goldman Sachs expects solar demand in France to expand 125 percent in 2009 as major European projects build momentum after more than doubling last year. In Greece, demand growth is expected at 400 percent, after recording expansion of 900 percent in 2008.

China leads the region, with growth seen at nearly 500 percent this year as new China solar incentives take hold, said Goldman Sachs.

"In developing markets we have to be opportunistic," said Inglin. "It's very difficult to predict where new markets will crop up."

The company is in talks with a Chinese firm to help boost its business in the mainland.

Asia business currently represents just over 1 percent of total company revenue. But Inglin hopes to grow this to more than 5 percent in three years.

"I see no reason why it can't if you start at a very low base," he said.

 

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