News

21 April 2009

 

Spain’s BETASOL gains funding for second, 2.375MW solar farm using OPEL’s HCPVs

OPEL International Inc of Toronto, Canada says that its partner BETASOL, which builds utility-grade solar farm installations for subsequent sale to investor groups, has obtained a bank guarantee of more than US$1.5m (€1,187,500) for a new HCPV project in Spain. BETASOL has hence applied for permits to build a new solar farm that will provide 2.375MW of solar power generated by OPEL’s Mk-I high-concentration photovoltaic (HCPV) panels mounted on dual-axis tracking systems (sufficient to supply 2700 Spanish households).

“Once the permits are obtained for this deployment of 2.375MW of HCPV generated solar power, this will bring meaningful advancement and institutionalization of HCPV installations into the region’s solar marketplace,” says OPEL’s CEO Robert Pico. “Our relationship with BETASOL is expanding,” he adds. Last December, OPEL began shipping its Mk-I HCPV panels for the first BETASOL installation, a 440kW utility-grade solar power plant (scheduled for completion this quarter) that is expected to supply more than 500 households.

“The Mk-I HCPV panel design is highly cost effective and concentrates light from the sun more than 500 times,” says Pico. “This product has conversion efficiency up to twice that of silicon flat-plate solar panels and more than three times that of thin-film solar panels, making it the optimum solution for solar grid field installations,” he claims. “The use of OPEL’s energy efficient panels together with Spain’s feed-in tariff structure allows attractive rates of returns for solar projects.”

See related item:

OPEL forms subsidiary to partner with European solar project developers

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