Soitec to sell 150 MW of PPAs to large solar services provider

The solar semiconductor specialist says this is a major milestone toward realisation of a solar project that is expected to deploy up to 83,400 Soitec concentrator photovoltaic (CPV) modules.

André-Jacques Auberton-Hervé, Chief Executive Officer of Soitec, said that...

Soitec Solar Development has entered into a sales agreement with one of the largest providers of solar energy services in North America to sell 150 MW(AC) of Power Purchase Agreements with San Diego Gas & Electric for a solar project under development in California.

Construction of the project is subject to certain conditions pertaining to the transaction and once the conditions have been fulfilled Soitec expects to receive a CPV systems order from the designated EPC contractor. Upon completion, the project will deploy up to 83,400 CPV modules manufactured at Soitec’s San Diego factory.

In 2011, SDG&E entered into five PPAs with Soitec for 155 MW (AC) which require the use of Soitec’s concentrator photovoltaic (CPV) systems.

André-Jacques Auberton-Hervé, Chief Executive Officer of Soitec, said that entering into this sales agreement is a major step for Soitec.

“It demonstrates the interest generated by our CPV technology in the US market. This is also an important milestone in executing Soitec’s strategic plan as this agreement willprovide significant demand to our US solar manufacturing operation,”said Auberton-Hervé.