Phoenix Solar to sell German businesses

A 3.5MW PV array in Saudi Arabia developed by Phoenix Solar.

The 3.5MW PV array in Riyadh, Saudi Arabia, developed by Phoenix Solar using Suntech modules.

Germany’s Phoenix Solar – until recent years one of the world’s largest PV system integrators – has taken the dramatic step of putting its German businesses on the auction block, as it looks to restructure its way back to profitability.

In addition Andreas Hänel, a co-founder of the Bavaria-based company and its chief executive since 2000, has resigned effective 28 February.

Bernd Köhler, who has served as chief financial officer since January 2012, will take over as both CEO and CFO.

Phoenix’s core business is split into two spheres – Components & Systems, essentially a wholesaler of PV kit sourced from around the world, and Power Plants, which develops, builds and operates large PV arrays.

Phoenix has decided to “part company” with both businesses in Germany, though it will maintain its “profitable” operations and maintenance unit.

The company – listed on the Log in to read complete article.

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login