OPEL International and Partners Apply for Grid Field Permit in Spain
OPEL International Inc. (TSX VENTURE: OPL) (“OPEL” or “the Company”), a leading global developer and supplier of concentrating photovoltaic panels (CPVs), today announced that the Company and its partners have applied for a permit to build a solar grid field in excess of 700 kW in Spain.
Following completion of the deployment, the grid field will be owned by a third-party group acting as power suppliers. OPEL will supply the project with its Mk-I high efficiency concentrator panels and dual axis trackers. This combination of products will ensure that the grid field yields the maximum number of kilowatt hours attainable.
This opportunity in Spain is attributable to upcoming changes in Spain’s solar feed-in tariff structure. These changes, in conjunction with the deployment of OPEL’s high efficiency CPV panels, are expected to result in a favorable operating cost structure for the eventual operators of the grid field. Banking arrangements are already in place for the permit process filing.
“This is an important milestone for OPEL,” said Robert Pico, CEO of OPEL International. “Spain has taken a leadership position in promoting solar power and we’re excited about the opportunity to sell our CPV products and trackers into this exciting market. I look forward to reporting on our progress with this initiative in the near future.”
About OPEL International
With operations headquartered in Shelton, CT and Toronto, Ontario, Canada OPEL designs, manufactures and markets innovative, state-of-the-art solar technology products designed to convert solar energy into electricity – at the least possible cost and greatest efficiency. The Company’s products are based on technology developed in cooperation with the University of Connecticut (Storrs, CT) and the Canadian National Research Centre (Ottawa, ON). A leader in gallium arsenide and solar photovoltaic technology, the Company has been awarded 23 patents and has 23 more patents pending. OPEL’s common shares trade on the TSX Venture Exchange under the symbol “OPL”. For more information about OPEL, please visit the Company’s website at www.opelinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: OPEL International Inc. Michael McCoy Chief Financial Officer (203) 612-2366 Ext 2229 (203) 944-0800 (FAX) Email: m.mccoy@opelinc.com OPEL International Inc. Philip Koven Investor Relations (416) 447-4740 Ext 235 Email: invest@opelinc.com Website: www.opelinc.com
SOURCE: OPEL International Inc.