BERNIN, France, March 25, 2014 (GLOBE NEWSWIRE) -- Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials for energy and electronics, today announced that its Touwsrivier solar power plant has successfully fulfilled milestones set for commissioning 50% of the total capacity. This event confirms that the power plant performs in accordance with contractual specifications and validates the power purchase agreements applied to the 44MWp solar plant.
As anticipated this milestone will trigger the refinancing of the project through the availability of the proceeds of the bond issued on the Johannesburg stock exchange in April last year.
Thanks to its local partners and suppliers, Soitec is confident to complete this largest solar power plant of 44 MWp capacity in South Africa in the coming months. Currently more than 60% of the power plant has been installed.
The achieved performance testing milestone demonstrates that Soitec's CPV technology is best suited for large utility scale power plants in high irradiance areas which is one of the largest market for solar renewable and confirms the bankability of Soitec's product for its announced pipeline of large scale solar projects going forward.
Full Year sales for the financial year 2013-2014 will be published on 22 April 2014 before the opening of the Paris Stock Exchange.
Soitec is an international manufacturing company, a world leader in generating and manufacturing revolutionary semiconductor materials at the frontier of the most exciting energy and electronic challenges. Soitec's products include substrates for microelectronics (most notably SOI : Silicon-on-Insulator) and concentrating photovoltaic systems (CPV). The company's core technologies are Smart Cut(TM), Smart Stacking(TM) and Concentrix(TM), as well as expertise in epitaxy. Applications include consumer and mobile electronics, microelectronics-driven IT, telecommunications, automotive electronics, lighting products and solar power plants for large-scale utilities. Soitec has manufacturing plants and R&D centers in France, Singapore, Germany, and the United States.
For more information, visit: www.soitec.com.
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Soitec press release in PDF http://hugin.info/143589/R/1771410/603115.pdf