BERNIN, France and SAN DIEGO, April 15, 2014 (GLOBE NEWSWIRE) -- Soitec (Euronext Paris), a world-leading supplier of advanced solutions for the electronics and energy industries, today announced that CSOLAR IV West, LLC (CSOLAR), recently notified San Diego Gas & Electric (SDG&E) that it has decided not to use Soitec Solar's concentrated photovoltaic (CPV) technology for its power purchase agreement (PPA) to produce 150 megawatts (MW) of clean energy for its CSOLAR IV West solar plant (see March 10, 2011 Soitec press release). Instead CSOLAR, a wholly owned subsidiary of Tenaska Solar Ventures, LLC ("Tenaska"), has decided to use traditional photovoltaic (PV) technology to carry out the project.
Soitec Solar is not a party to the PPA between SDG&E and Tenaska. Tenaska's decision was made public at the April 10, 2014 California Public Utilities Commission (CPUC) meeting. See link to the April 10, 2014 CPUC meeting video transcript: http://www.californiaadmin.com/cpuc.shtml (CPUC Commission Voting Meeting - April 10, 2014 video segment between 01:55:40 and 02:02:47)
Soitec Solar is disappointed with Tenaska's decision, which does not materially jeopardize the prospects for its North American manufacturing facility in California from which it supplies a worldwide demand for its CPV technology nor impacts Soitec PPAs with SDG&E and previously approved by the CPUC (see April 12, 2011 and May. 18, 2011 Soitec press releases) and currently under development.
About Soitec: 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 concentrator 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 large-scale solar power plants. 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/1777418/606690.pdf