OPEL International and Partner Installing 440kW of High Concentration Panels in Spain Installation to Provide Power to Over 500 Spanish Households
OPEL International and Partner Installing 440kW of High Concentration Panels in Spain
Toronto, ON, and Shelton, CT, January 14, 2009 - OPEL International Inc. (TSX-V: OPL) ("OPEL"), a leading global developer and supplier of high concentration photovoltaic ("HCPV") and other solar products, today announced that it has begun supplying OPEL's HCPV panels to build a utility grade solar power plant of 440 kilowatt (kW) in Spain under an agreement with BETASOL. When completed, the grid is expected to supply cost effective and energy efficient power to over 500 households.
BETASOL is a Spanish company located in a prime area of Spain for solar deployments. Its business is 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.
The shipment of OPEL's panels for the installation began in December, and the project is planned for completion in the first quarter of 2009.
"This deployment of 440 kW of HCPV panels is one of the first significant installations in the HCPV marketplace and is an important milestone for OPEL," said Robert Pico, CEO of OPEL International. "We are excited about our new and expanding relationship with our partner, BETASOL, and look forward to reporting on our progress with this leading solar technology in the near future."
"We at BETASOL are very pleased to be in partnership with OPEL, one of the leading HCPV suppliers in the world," said Jesus Cabetas, Managing Director of BETASOL. "OPEL's greatly improved panel efficiency allows attractive rates of returns on our Spanish solar projects."
OPEL is supplying this project with its original design Mk-I high concentration panels (HCPVs) to be mounted on a tracker system. These panels are a highly cost effective solution and complement the recently-announced changes in Spain's feed-in tariff structure. The deployment of OPEL's energy efficient panels is expected to result in a favorable operating return for the project.
"Mk-I HCPV panel design uses cost effective materials and concentrates light from the sun more than 500 times," Pico added. "This product has conversion efficiency up to twice that of silicon solar panels and more than three times that of thin film solar panels making it an optimum solution for solar grid field installations."
OPEL will continue its work with additional Spanish partners on solar farm field projects in other locations in Spain in 2009.
About OPEL International
With operations headquartered in Shelton, Connecticut 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% 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 axis solar trackers to mount solar panels for the optimum power output. OPEL also designs infrared sensor type products for military and industrial applications.
A leader in gallium arsenide and solar photovoltaic technology, OPEL has been awarded 31 patents and has 15 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: January 14, 2009
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
For further information:
Pat V. Agudow
Vice President, Administration
OPEL International Inc.
Tel: (203) 612-2366 Ext 2612
Bill Blase, Cathy Loos or Stephanie Kuffner
WT Blase & Associates, Inc.
Tel: (212) 221-1079
The TSXV has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.