SAN FRANCISCO, Oct. 23, 2014 (GLOBE NEWSWIRE) -- 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.
Soitec is an international manufacturing company, a world leader in generating and manufacturing revolutionary semiconductor materials at the frontier of the most exciting energy and electronic challenges. Soitec's products include substrates for microelectronics (most notably SOI: Silicon-on-Insulator) and concentrator photovoltaic systems (CPV). The company's core technologies are Smart Cut(TM), Smart Stacking(TM) and Concentrix(TM), as well as expertise in epitaxy. Applications include consumer and mobile electronics, microelectronics-driven IT, telecommunications, automotive electronics, lighting products and large-scale solar power plants. Soitec has manufacturing plants and R&D centers in France, Singapore, Germany and the United States. For more information visit: www.soitec.com.
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Soitec press release in pdf http://hugin.info/143589/R/1865084/654808.pdf