OPEL Solar, Inc. and Tecneira, S.A. Launch Partnership with One Megawatt Solar Plant
April 20 2010 - 9:30AM
Marketwired
OPEL International Inc. (TSX VENTURE: OPL) and OPEL Solar, Inc.
OPEL Solar, Inc., a leading global developer and supplier of
high concentration photovoltaic ("HCPV") solar panels and other
solar products, including ground-based and rooftop tracker systems,
today announced it has signed an agreement with Tecneira, S.A., the
Portugal renewable energy company of the ProCME Group. The
companies also announced their first HCPV solar project win.
In mid-March the Portuguese Government had a public ceremony
announcing the Country's commitment to renewable energy goals by
2020. As part of the ceremony, headed by the Portuguese Prime
Minister, Jose Socrates, it was announced that OPEL Solar and
Tecneira were awarded in the preliminary phase of projects, a one
Megawatt solar concentrating photovoltaic ("CPV") power plant
installation. This solar project will be a one megawatt HCPV
installation eligible for the Portuguese feed-in tariff ("FIT")
that will provide a guaranteed investment rate of return.
"OPEL Solar is delighted to have the partnership with Tecneira
as Portugal aggressively moves into CPV solar energy," said Robert
Pico CEO of OPEL Solar, Inc. "We understand that for the project
award OPEL Solar's technology was viewed as one of the most
innovative and utility scalable to achieve Portugal's solar energy
goals for CPV."
"Tecneira believes in the competitive advantages that OPEL
Solar's HCPV technology offers our Company. Putting the HCPV panels
on solar trackers will optimize the electrical production for this
solar power plant," said Alda Delgado, CEO of Tecneira, S.A. "We
look forward to working with OPEL Solar on this first installation
and other projects in the future."
The one megawatt solar plant will be located in Alqueva in the
Moura Region of Southern Portugal, a prime location for solar
development.
OPEL Solar will build the installation with its Mk-I HCPV solar
panels mounted on dual axis trackers. The combination of OPEL's
HCPV panels and precision dual axis trackers results in a higher
power production per unit of land (acre/hectare) than silicon or
thin film flat panels with a potential to increase photovoltaic
yields by up to 40 percent.
About Tecneira, S.A. and ProCME Group
Tecneira, S.A. has its headquarters in Porto Salvo, Portugal.
Established in 2001, Tecneira is the renewable company within the
ProCME Group. Its core business is the production of electricity
from renewable power sources and its commercialization and supply
to the public electrical grid. Tecneira focuses on the development
of solar photovoltaic, wind farms, biomass, and wave energy
projects. The Company has the main goal of the promotion,
development, turnkey construction, managements of renewable power
systems, as well as the operation and maintenance of renewable
power plants. Tecneira considers the use of innovative solar
technologies like HCPV vital to solar energy having a major impact
on the future competitive market and rate of return on investments
in solar power. Tecneira develops opportunities in HCPV from
microgeneration to large scale utility solar systems.
ProCME Group is comprised of companies developing within the
scope of high tech engineering. It is an organization that is part
of the Spanish ACS Group. Presently, it is one of the largest
companies in the world with global business in the service and
construction areas. ProCME has the ability to perform the
installation of every kind of energy power plant, either
conventional or renewable energy.
About OPEL Solar, Inc. and OPEL International Inc.
With operations headquartered in Shelton, CT and Toronto,
Ontario, Canada, OPEL designs, manufactures and markets high
performance concentrating photovoltaic ("HCPV") panels to transform
solar energy into electricity for worldwide application. OPEL's
high performance photovoltaic concentrating panels generate up to
40 percent more kilowatt-hours than conventional flat plate silicon
or thin film solar panels, resulting in more cost-effective
electricity generated from the sun. OPEL also markets a complete
line of precision dual and single axis solar trackers to mount
solar panels for optimum power output. OPEL also designs infrared
sensor type products for military and industrial applications.
A leader in gallium arsenide and solar photovoltaic technology,
the Company has been awarded 39 patents and has 12 more patents
pending. OPEL's common shares trade on the TSX Venture Exchange
under the symbol "OPL". For more information about OPEL Solar,
Inc., please visit the Company's website at www.opelinc.com. OPEL
Solar, Inc. is a subsidiary of OPEL International Inc. (TSX
VENTURE: OPL).
Dated: April 20, 2010
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Investors are cautioned that except for statements of historical
facts, certain statements contained in this news release may
include forward-looking information with respect to the Company.
Such forward-looking statements or information are based on current
expectations, estimates and projections formulated using
assumptions currently believed to be reasonable and involving a
number of risks and uncertainties which could cause actual results
to differ materially from those anticipated. The Company does not
undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
The TSXV has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: OPEL Solar, Inc. Pat V. Agudow Vice President, Public
Relations (203) 612-2366 Ext 2612 p.agudow@opelinc.com WT Blase
& Associates, Inc. Bill Blase or Stephanie Kuffner Media
Relations (212) 221-1079 solar@wtblase.com
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