Phoenix Solar pumps renewable energy into IKEA store

Phoenix Solar pumps renewable energy into IKEA store

Singapore's Phoenix Solar Pte Ltd has been awarded a contract by IKEA
Southeast Asia to design and build a 1 MWp solar system on the roof of IKEA
Tampines. The system is expected to generate 1.3 million kilowatt hours per
year - enough renewable energy to power the equivalent of 283 four-room HDB
flats. IKEA expects to trim an estimated $2.4 million from the store's
electrical bills over the next ten years.

This project follows the successful 1 MWp solar rooftop system installation
on top of the company's Megabangna mall in Bangkok and is the start of
additional collaborations already in the pipeline between IKEA Southeast
Asia and Phoenix Solar.

Phoenix Solar Pte Ltd is the Singapore based subsidiary of Phoenix Solar AG
(ISIN DE000A0BVU93), an international photovoltaic (PV) system integrator
listed on the official market (Prime Standard) of the Frankfurt Stock
Exchange. The contract with the IKEA franchisee is based upon a
non-exclusive regional framework agreement executed recently between the two
companies covering turnkey services for engineering, procurement,
installation, operation and maintenance (O&M) of commercial rooftop solar PV
systems. The agreement provides a streamlined procurement process while
maintaining competitive pricing strategies.

"This project supports a core sustainability goal for our company: to
generate and consume renewable energy," says Christian Rojkjaer, the
Managing Director of IKEA Southeast Asia. "When we can reduce climate impact
while saving long-term operational costs, it's an easy business decision. At
the same time, we contribute in a meaningful way to the development of
renewable energy in Southeast Asia."

Sustainability is an integral and natural part of the everyday business for
IKEA Southeast Asia, driven by a vision to create a better everyday life for
the many people. The company consistently strives to have a positive impact
on the planet and people while operating and expanding its retail business
in Singapore, Malaysia and Thailand. Solar PV systems play a vital part.

The IKEA Cheras store in Kuala Lumpur already has a similar system on its
rooftop. Megabangna, the spacious Bangkok mall anchored by IKEA, was among
the first large commercial enterprises in Thailand to feed electricity into
the city grid under the feed-in tariff solar rooftop program started by the
government in 2014. "We expect a positive impact - commercially and
environmentally - from the Singapore project and from further cooperating
with Phoenix Solar in our other regional projects in Southeast Asia," says
Mr. Rojkjaer.

Eric Fleckten, Phoenix Solar Senior Vice President Asia/Pacific, added: "We
are proud to expand our cooperation with IKEA Southeast Asia on a new
contractual basis and with another project supporting the company's move
towards clean energy by providing top-class solar PV systems on time and on
budget. The cooperation is a strong contribution to our strategy of
sustainable and profitable growth in the region."

Installation of the solar panels begins at IKEA Tampines in March and the
project is expected to be completed in July.

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Link to Original Article:
https://www.pv-magazine.com/press-releases/phoenix-solar-pumps-renewable-ene
rgy-into-ikea-store/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com