OPEL International and Partner Complete Phase One of Commercial HCPV Installation
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SHELTON, CONNECTICUT AND TORONTO, ONTARIO, Jul 07
(MARKET WIRE) --
OPEL International Inc., (TSX VENTURE: OPL), a leading global developer
and supplier of high concentration photovoltaic ("HCPV") and other solar
products, including ground-based and rooftop tracker systems, and its
Spanish partner, BETASOL, today announced that the first phase of a
four-phase, 440 kilowatt (kW) utility grade solar photovoltaic power
plant has been completed in Spain. This initial phase, which is
generating 110 kW, represents one of the first HCPV installations
supplying commercial electricity to the power grid and is already
generating revenue for BETASOL.
OPEL built this installation with its Mk-I high concentration panels
(HCPVs) mounted on dual axis trackers. The balance of the installation is
expected to be done during the third quarter of 2009. When the project is
fully completed, it will supply electricity to over 350 households.
OPEL's partner, BETASOL, a Spanish company, specializes in building
utility grade solar farm installations and their subsequent sale to
investor groups. Solar farms are a collection of solar panels mounted on
trackers that convert solar energy into electricity. This utility grade
solar farm is located in the Province of Tarragona in Spain, a prime area
for solar deployments.
"The successful completion of the initial 110 kW phase of this HCPV
system represents one of the first commercial grade installations using
HCPV technology generating revenue in Spain, and we view it as a
continued expansion of OPEL's leading edge solar concentrating
technology," said Robert Pico, CEO of OPEL International.
"We are excited about the operational completion of this HCPV solar power
plant, which is now delivering electricity to the power grid in Spain,
and we are pleased to share this success with our partner, BETASOL," Pico
added. "This installation has attracted great interest of potential
customers in both Europe and Africa. Our HCPV technology promises to
deliver cost effective solar generated power to many markets across
Europe and Africa."
"We at BETASOL are very pleased to have this project now providing
renewable solar electricity to the power grid using HCPV, one of the
advanced solar technologies in the world today," said Jesus Cabetas,
Managing Director of BETASOL. "Our partnership with OPEL using its HCPV
panels greatly improved the system's efficiency, thus making the rate of
return provided by the Spanish feed-in tariff structure even more
attractive to investors."
"OPEL's Mk-I HCPV panel design is a cost competitive solution
concentrating light from the sun more than 500 times on to very high
efficiency multi junction solar cells," said Frank Middleton, Vice
President of Marketing for OPEL International. "This product has
conversion efficiencies up to twice those of silicon solar panels and
more than three times that of thin film solar panels, making it an
optimum solution, especially in sunny climates such as the Mediterranean
basin and the South Western United States."
OPEL will continue to report on its progress with this leading solar
technology as it completes the other phases of this project.
About OPEL International
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 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, please visit the Company's
website at www.opelinc.com.
Dated: July 7, 2009
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 International, Inc.
Pat V. Agudow
Vice President, Administration
(203) 612-2366 Ext 2612
p.agudow@opelinc.com
www.opelinc.com
WT Blase & Associates, Inc.
Bill Blase, Cathy Loos, or Stephanie Kuffner
Media Relations
(212) 221-1079
solar@wtblase.com
Copyright 2009, Market Wire, All rights reserved.
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