Installation is at a California Water Treatment Plant
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - OPEL Solar Inc. and OPEL Technologies Inc. (TSX VENTURE:OPL) (collectively "OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and solar tracker systems and a semiconductor device and process developer announced today that Conergy U.S. selected OPEL to supply its TF-800 series of single axis trackers for multiple projects in Northern California. The first project, located in California Central Valley, was successfully completed for a 480 kilowatt ("kW") solar power installation at a waste water treatment plant. Construction on the solar plant began in August with the plant scheduled to commence generating power later this year. OPEL proudly celebrates a series of revenue wins for its solar tracking systems, which are fast becoming the preferred industry choice.
Conergy AG is one of the world's largest solar energy manufacturers, having produced and sold more than 1.5 Gigawatts of clean solar power. "To have OPEL Solar tracking systems selected by such a premiere force in the solar industry is a testament to the advanced engineering behind our solar tracking systems," said Leon M. Pierhal, CEO of OPEL Solar. "We are pleased to say that adding our TF-800 to Conergy's P 235W PV modules results in an increase of more than 20% in energy production when compared with fixed PV panel mounting. We look forward to developing a long-standing relationship in growing the solar energy industry," Pierhal added.
"Conergy chose OPEL trackers for this project because of their combination of cost efficiency and quality," said Conergy's David Vincent, Project Development Manager.
The TF-800 tracker series of ground-mounted single axis trackers have proven to be very attractive commercially because of the ease of installation and their reverse tracking ability to avoid shadowing from adjacent trackers. The versatility of the solar trackers allows the use of any solar panels currently being deployed on commercial and utility scale projects, making it solar panel indifferent and an ideal selection of most solar generation installations. The features of the TF-800 tracker products also favorably impact the installation as well as the operation and maintenance system ("O&M") of a solar power plant. Using wireless tracker network control technology incorporated into OPEL's TF-800 solar tracker product line helps lower the upfront construction costs while allowing tracker level monitoring. A solar generation plant owner is able to monitor the solar field remotely, including modifying the position of any one or all of the trackers in an installation. This capability reduces installation costs, O&M expenses, increases efficiency and helps maintain optimal performance.
About Conergy North America
As a full system manufacturer, Conergy Group delivers solar energy systems from a single source and offers all services under one roof.
Through deep-rooted operations in 18 countries, Conergy System Sales sells premium Conergy products to customers in nearly 40 countries worldwide. Conergy supports homeowners, installers, wholesalers and investors in their efforts to "go solar." With local sales activities on five continents, Conergy has close relationships with all its customers. Listed on the Frankfurt stock exchange, Conergy employs more than 1,700 people worldwide. Since Conergy's founding in 1998, it has produced and sold more than 1.5 GW of clean solar power, and developed over 500 MW of solar parks.
Conergy's Solar Large Projects Group manages the planning, financing, installation, monitoring, and ongoing operations and maintenance for turn-key solar projects across the globe. Conergy's broad project expertise ensures maximum performance from every Conergy power plant.
Through its acquisition of well-established local companies, Conergy began operating as a distributor and project developer in North America in 2005 and currently has five offices, four warehouses and three production sites in the region. In North America, Conergy is both a manufacturer and wholesaler. Conergy manufacturers mounting systems in Sacramento, California. In Ontario, Canada Conergy produces modules and mounting systems that meet local content requirements for the Provincial FIT. Conergy offers innovative products and tailored services to its North American network of system integrators and project developers. Through these activities, Conergy maintains expert knowledge about local market conditions and requirements. Please visit the company website at www.conergy.us.
About OPEL Technologies Inc., OPEL Solar, Inc. and ODIS Inc.
With operations in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL, Inc., designs, manufactures and markets high-concentration photovoltaic panels and dual- and single-axis trackers for related CPV and PV systems for energy applications worldwide. The Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has 35 patents issued and 12 patents pending in PV systems technologies and for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit our websites at www.opelsolar.com; and www.opeltechinc.com; and for ODIS at www.odisinc.com.
Dated: September 15, 2011
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. They include OPEL's statement that the solar plant which began production in August is scheduled to commence generating power later this year as well as OPEL's looking forward to developing a long-standing relationship in growing the solar energy industry with Conergy.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by OPEL's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of OPEL's anticipated projects, delays or changes in plans with respect to the development of OPEL's anticipated projects by OPEL's third party relationships, risks affecting OPEL's ability to execute projects and market its solar products, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. Additional assumptions and risks are set out in detail in OPEL's Annual Information Form, available on SEDAR at www.sedar.com.
Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.