SolFocus and EMPE Solar Sign $103 Million Deal for 10+MW UtilityScale Project
Largest CPV Deal in EU with Generation Capacity to Power City of 40,000 Residents
Mountain View, CA, November 3, 2008
Source: SolFocus.com press release
http://www.solfocus.com/news_file/20081103144613_solfocus-and-empe-solar-sign-deal.pdf
SolFocus, a provider of concentrator photovoltaic (CPV) solar energy solutions, today announced the signing of a $103 million (€80M) agreement with EMPE Solar to install over 10 megawatts (MW) of CPV solar energy projects in several sites across southern Spain by the end of 2010. SolFocus’ CPV systems use a proven combination of high‐efficiency PV cells and advanced optics to provide high solar energy yields at competitive costs for commercial, industrial, and utility applications. This project will be the largest deployment of CPV technology in Europe, and will be capable of meeting the domestic energy requirements for a city of approximately 40,000 residents.
“CPV, with its high energy density and output, is an ideal solution for the Spanish market, providing more clean, reliable energy with a small land footprint and low lifetime cost,” said Gary D. Conley, CEO and Chairman of SolFocus. Inc. “As we continue to drive down costs towards becoming competitive with fossil fuels, sophisticated partners like EMPE Solar will play a critical role in breaking new ground throughout the Mediterranean.”
The SolFocus‐EMPE deal comes after SolFocus recently completed two utility‐scale CPV projects for the Institute of Concentration Photovoltaic Systems (ISFOC) in Spain. Through the 3 MW ISFOC project, SolFocus demonstrated CPV’s ability to scale to aggressive energy production targets while showcasing the overall system reliability and efficiency.
Eduardo Goicoechea and Sebastian Sagüés, Partners at EMPE Solar, explain: “EMPE Solar seeks only the most innovative solutions to reduce electricity production costs for our customers. SolFocus has proven its technology’s value in our region, and we are confident it will enable us to quickly achieve our cost targets for carbon‐free energy.”
CPV technology, a rapidly growing disruptive energy technology, is targeted to the high solar resource areas of the world. SolFocus CPV leverages readily available, low‐cost materials such as glass and aluminum to provide rapid scalability to 100’s of megawatts of solar electricity. Using mirrors and advanced reflective optics, SolFocus modules concentrate the sun’s rays 500 times onto a small high efficiency solar cell resulting in use of 1/1000 the amount of photovoltaic material used in traditional PV systems.
SolFocus panels are integrated onto an advanced sun‐tracking system allowing the systems to produce energy throughout the day, providing ideal delivery to peak demand requirements. The SolFocus CPV system is 95% recyclable being primarily aluminum and glass. In its first year of operation this 10 megawatt installation will eliminate the generation of 27,000 tons of CO2 emissions which would have resulted from traditional fossil fuel energy generation. The technology also offers the lowest carbon footprint of any solar energy solution, and capitalizes on mature manufacturing processes and tools such as are used in the automotive and electronics industries.
For more information on SolFocus products and solutions, please go to
www.solfocus.com.
About SolFocus
The SolFocus mission is to enable solar energy generation at a Levelized Cost of Energy (LCOE) competitive with traditional fossil fuel sources. To achieve this goal, SolFocus has developed leading concentrator photovoltaic (CPV) technology which combines high‐efficiency solar cells (approaching 40%) and advanced optics to provide solar energy solutions which are scalable, dependable and capable of delivering on the promise of clean, low‐cost, renewable energy. SolFocus is headquartered in Mountain
View, California with European operations headquartered in Madrid, Spain, and manufacturing in Mesa, Arizona as well as with manufacturing partners in India and China.
About EMPE Solar
EMPE Solar has been formed by a group of forward thinking promoters to incorporate new technologies in the photovoltaic solar market. EMPE Solar believes that CPV is the solution to achieve grid parity with traditional energy production sources in the shortest timeframe.