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SOITEC HAS EXECUTED A SALES AGREEMENT TO SELL 150 MW OF PPAs TO LARGE SOLAR SERVICES PROVIDER [Mehr News Agency (Iran)](Mehr News Agency (Iran) Via Acquire Media NewsEdge) Soitec, a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries, announced today that Soitec Solar Development, LLC (Soitec), a wholly owned subsidiary, has entered into a sales agreement with one of the largest providers of solar energy services in North America to sell 150 MW(AC) of Power Purchase Agreements (PPAs) with San Diego Gas & Electric (SDG&E) for a solar project under development in California. Construction of the project is subject to certain conditions pertaining to the transaction and once the conditions have been fulfilled Soitec expects to receive a CPV systems order from the designated EPC contractor. Upon completion, the project will deploy up to 83,400 CPV modules manufactured at Soitec's San Diego factory. In 2011, SDG&E entered into five PPAs with Soitec for 155 MW (AC) which require the use of Soitec's concentrator photovoltaic (CPV) systems. André-Jacques Auberton-Hervé, Chief Executive Officer of Soitec, declared: Entering into this sales agreement is a major step for Soitec. It demonstrates the interest generated by our CPV technology in the US market. This is also an important milestone in executing Soitec's strategic plan as this agreement will provide significant demand to our US solar manufacturing operation. Soitec's CPV technology is designed to improve the Levelized Cost of Electricity (LCOE) in the sunniest regions of the world when compared to other solar technologies. With installations in 20 countries around the world, Soitec's CPV technology has proven its high efficiency and cost competitiveness largely due to its higher production yields throughout the sunlight hours and lower construction and maintenance costs. In addition, CPV technology's ability to operate without cooling water and withstand hot ambient temperatures with minimal environmental impact make it perfectly suited for use in the desert areas of California. (c) 2014 Mehr News Agency Provided by SyndiGate Media Inc. (Syndigate.info). |