Phoenix Solar AG concluded an agreement on March 18, 2016 with its banking syndicate. The finance package extends the company's existing facility through September 30, 2018. The new financing package now totals some EUR 101 million, consisting of a syndicated loan of EUR 85.4 million as well as other bilateral cash and guarantee lines.

After successfully completing its restructuring in 2014 and owing to strong growth in the operating business in 2015, Phoenix Solar's finance needs are slightly down due to the amortization of loans as well as less credit need in the now much smaller German market. The new facility will finance the more than 50% organic growth foreseen for the 2016 financial year as well as further geographic expansion.