Oldenburg, Prenzlau, November 13, 2009. aleo solar AG today announced an expansion to its international business in Europe: its market share in Greece is now 16 percent. Of the nearly 38 megawatts of photovoltaic power that have now been connected to the country's national grid (according to its operator, Hellenic Transmission System Operation) aleo solar has supplied more than 6 megawatts since 2007. Projects implemented range from commercial and private rooftop installations to major greenfield facilities.

Speaking during a customer event at the company's new Athens office, Jakobus Smit, CEO of aleo solar AG, explained aleo's strategy: "Our internationalization efforts are focused on Europe. We are already a sought-after partner in Greece since we can satisfy all of our customers' demands – including mono- or polycrystalline modules, thin-film modules, inverters or mounting frames. Customers are already benefiting from our expertise in marketing and sales. Over 40 Greek customers have now become part of our aleo power network."

Greece's emerging solar market is showing positive growth, thanks to the favorable terms of the Greek feed-in legislation. Rooftop installations with up to ten kilowatts of rated output have been even more attractive since mid-year: each kilowatt-hour fed into the grid is subsidized at EUR 0.55 over 25 years. Funding is adjusted annually to account for inflation and is not capped. In addition, tax rebates of 20 percent of investment costs are granted, up to a maximum of EUR 700. Nonetheless, the overall development of the Greek PV market continues to be held back by an excess of red tape.

Source: aleo solar AG