Intelligence Brief

Opel continues its first Spanish installation

2 September 2009

HCPV panel maker Opel International has succeeded in maintaining a solid cash position, particularly during these unprecedented economic conditions.
 
The decision to go ahead with its development programmes has allowed Opel to step up its production capability and has positioned it to drive down the costs of its HCPV solar panels. The company says this would ensure that Opel is going to be competitive as the market for larger HCPV projects in the backlog gets into action in late 2010.
 
Through its partnership with Betasol, the company is installing a 440kW grid field in Spain in the second and third quarters of 2009. As of June 30, Opel has delivered 363kW of panels to this project. This represents around $1,000,000 in revenue that will be recognised once this grid field is sold to a third party. In addition, there will be revenue generated from the balance to be installed in the third quarter. 110kW of this installation are already producing power to the grid.
 
Opel believes that the financing of solar projects is starting to soften and that the US alternative energy stimulus package as well as the revised Ontario Standard Offer will start to stimulate growth.
 
Read more: Opel, Betasol