Soitec receives regulatory approval of PPAs totaling 155 MW for California projects

BERNIN, FRANCE: Soitec (Euronext), a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries, today announced that its subsidiary, Soitec Solar Development, LLC, received the approval of five of its power purchase agreements with San Diego Gas and Electric (SDG&E) from the California Public Utilities Commission (CPUC).

These five projects represent a combined capacity of 155 megawatts (MW) of solar energy with electricity generated at solar power plant sites in San Diego County that will use Soitec's Concentrix concentrator photovoltaic (CPV) technology. Additionally, the CPUC approved an option agreement for the right, but not the obligation, for SDG&E to purchase additional capacity from Soitec Solar Development, LLC. This announcement represents a significant step forward in Soitec's expansion plans and strategy in the United States.

The CPV modules, as previously announced, will be manufactured in a new Soitec factory planned for the San Diego area. The new manufacturing facility will use new Concentrix fifth generation technology to supply the projects, which provides a market-leading module efficiency that exceeds 30 percent (or two to three times the efficiency of conventional PV technology.)

CPV technology converts sunlight directly into "clean" electricity via concentrator optics and high-efficiency solar cells offering the best design for use in sunny regions, environmentally-friendly, and delivering low-cost, reliable, solar generated electricity. Additionally, CPV technology requires no water for ongoing operations, a crucial consideration for the water-constrained San Diego and Imperial Counties.

At full capacity, the San Diego manufacturing facility will generate up to 450 direct jobs and more than 1,000 indirect jobs within San Diego County. The factory location is expected to be announced before the end of the year.