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||20 November 2009
Germany’s solar power firm plans office in Malaysia
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, Reuters quoted a company executive as saying.
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 because so far it is so under-penetrated,” 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 had announced earlier 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 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.
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