OPEL Solar, Inc. and BETASOL Secure Spanish Feed-In Tariff for One of World’s First Commercial HCPV Power Installations
Shelton, CT and Toronto, ON, March 9, 2010 – 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, and its Spanish partner, BETASOL, today announced that its 330 kilowatts (kW) utility-grade solar photovoltaic power plant in Spain is eligible to begin receiving the feed-in tariff (“FIT”) from the Spanish Government. This makes the OPEL Solar project one of the first HCPV installations to be recognized with an FIT and guaranteed investment rate of return.
Shelton, CT and Toronto, ON, March 9, 2010 – 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, and its Spanish partner, BETASOL, today announced that its 330 kilowatts (kW) utility-grade solar photovoltaic power plant in Spain is eligible to begin receiving the feed-in tariff (“FIT”) from the Spanish Government. This makes the OPEL Solar project one of the first HCPV installations to be recognized with an FIT and guaranteed investment rate of return.
The Spanish listing is called, the Photovoltaic Allocation Registry, and was published in mid-February 2010. It denotes those projects approved for the feed-in tariff starting in the first quarter of 2010. The Vilalba del Arcs solar farm is on the approved list. As one of the first commercial HCPV installations, the 330 kW site using OPEL Solar leading edge technology will be eligible for a FIT of 28.1 Eurocents per kilowatt of electric power generated. The FIT will be provided for a 20-year period.
“The approval of the Vilalba del Arcs utility solar farm for the Spanish Feed-In Tariff Program is a significant business milestone for OPEL Solar and its HCPV technology,” said Robert Pico, CEO of OPEL Solar, Inc. “This demonstrates that HCPV is a viable technology for generating electricity from the sun at utility scale levels and for providing guaranteed revenue to its owners, such as BETASOL in this case.” Pico added “From an investment viewpoint, this project offers a very attractive rate of return to any investor.”
This utility grade solar farm is one of the first operable solar grid fields in the world using OPEL’s HCPV leading edge solar technology. It generates 330 kW of electricity to the power grid, increasing revenue for BETASOL. The installation is located in the Tarragona region of Spain, a prime location for solar development.
OPEL built the installation with its Mk-I high 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 otential to increase photovoltaic yields by up to 40 percent.
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 solar panels, resulting in more cost-effective electricity generated from the sun. OPEL also markets a OPEL Solar, Inc. A subsidiary of:
Operations Office: OPEL International Inc.
3 Corporate Drive, Suite 204 Suite 501, 121 Richmond Street West Shelton, CT 06484 Toronto, ON, M5H 2K1
Phone: (203) 612-2366 Phone: (416) 368-9411
Fax: (203) 944-0800 Fax: (416) 861-0749
OPEL SOLAR, INC. – News Release dated March 9, 2010
complete line of 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 eight 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.
Dated: March 9, 2010
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary For further information:
Pat V. Agudow Bill Blase, Cathy Loos, or Stephanie Kuffner
Vice President, Public Relations Media Relations
OPEL Solar, Inc. WT Blase & Associates, Inc.
Tel: (203) 612-2366 Ext 2612 Tel: (212) 221-1079
Email: p.agudow@opelinc.com Email: solar@wtblase.com
