News

9 March 2010

 

OPEL and BETASOL secure Spanish feed-in tariff for 330kW HCPV solar farm

Together with its Spanish partner BETASOL (which builds utility-grade solar farm installations for subsequent sale to investor groups), OPEL Solar Inc (a subsidiary of OPEL International Inc of Shelton, CT and Toronto, ON, Canada, which makes high-concentration photovoltaic panels), has announced that its 330kW utility-grade solar photovoltaic power plant in Spain is eligible to begin receiving the feed-in tariff (FIT) from the Spanish Government. This makes the OPEL Solar project one of the first high-concentration photovoltaic (HCPV) installations to be recognized with an FIT and guaranteed investment rate of return.

The Spanish listing, called the Photovoltaic Allocation Registry, was published in mid-February and denotes projects approved for the feed-in tariff starting in first-quarter 2010. As one of the first commercial HCPV installations, the 330kW solar farm at Vilalba del Arcs will be eligible for a FIT of 28.1 Eurocents per kilowatt of electric power generated. The FIT will be provided for a 20-year period.

“The approval of the Vilalba del Arcs utility solar farm for the Spanish Feed-In Tariff Program is a significant business milestone for OPEL Solar and its HCPV technology,” says OPEL Solar’s CEO Robert Pico. “This demonstrates that HCPV is a viable technology for generating electricity from the sun at utility-scale levels and for providing guaranteed revenue to its owners, such as BETASOL in this case,” he adds. “From an investment viewpoint, this project offers a very attractive rate of return to any investor.”

The utility-grade solar farm is one of the first operable solar grid fields in the world using OPEL’s HCPV solar technology. It generates 330kW of electricity to the power grid, increasing revenue for BETASOL. The installation is located in the Tarragona region of Spain, which is a prime location for solar development.

OPEL built the installation using its Mk-I HCPV solar panels mounted on dual-axis trackers, which combine to result in a higher power production per unit of land (acre/hectare) than silicon or thin-film flat panels, with a potential to increase photovoltaic yields by up to 40%, the firm claims.

See related items:

OPEL Solar wins Connecticut Green Business Award

OPEL and BETASOL complete third 110kW phase of utility-grade HCPV solar farm

OPEL and BETASOL complete 2nd 110kW phase of 440kW Spanish HCPV solar farm

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