Solar Thin Films Expands Its Footprint in Spain
Solar Thin Films, Inc. (OTC-BB: SLTN), as quoted in La Opinion de Murcia, has begun collaborating with Zinsa to provide photovoltaic solar cells to power the company’s “City of Zinc” project. The company is also working with GrupoUnisolar in Spain, with its competitors in the market including Yingli Green Energy (YGE) and LDK Solar (LDK).
Spanish newspaper, La Opinion De Murcia, features Solar Thin Film’s representative
Luc Estoneric (2nd to the right in picture) meeting with Zinsa representatives.
Solar Thin Films, Inc. [[SLTN.OB]], a leading producer of thin film amorphous solar module equipment and factories, is completing the delivery on two key projects in Spain, while validating its new line of building-integrated photovoltaic (BIPV) solar panels. These unique products provide for the integration of solar installations into building structures of all types.
Solar Thin’s largest contract in Spain is a $10.92 million deal with Grupo Unisolar, to whom it has delivered equipment valued at 80% of the estimated total project value. According to Vice President of Business Development Dr. Lou Stamenic, “This is an important step forward for Kraft since amorphous silicon thin-film material is so well suited for the BICP marketplace.”
Solar Thin also has plans to ship its new BICP line of solar panels to Zinsa’s “City of Zinc” project in Spain. The solar panels will be installed on a 4,000 square foot factory in the Los Camanchos industrial district. Like the Grupo Unisolar project, this project will generate approximately 6MW of electricity and through building-integrated solar panels.
With regards to the size of the Zinsa solar project, a leading Spanish newspaper covering the story (pictured above) had the following to say:
“La inversión de la planta fotovoltaica, que se construirá en 4.000 metros cuadrados de los 150.000 que Zinsa tiene en el polígono industrial de Los Camachos, estaría en torno a los 4 millones de euros que pondría la empresa, más otros 4 millones de subvención pública y 5,6 más de financiación pública, y la previsión de facturación anual estaría en los 9,6 millones de euros.”
Roughly translated: “The investment in the photovoltaic plant, which will be constructed on 4,000 square meters of the 150,000 that Zinsa has in the Los Camachos industrial park, will cost the business around 4 million Euros, plus another 4 million from public subsidies, and 5.6 million in additional public funding, and estimates annual turnover of 9.6 million Euros.”
Spain continues to be one of the most attractive countries for the development of solar energy as it has more sunshine than any other country in Europe. Meanwhile, the Spanish government is committed to achieving a target of 12 percent of primary energy from renewable energy by 2010 with an installed solar generated capacity of 3,000 megawatts (MW).
On the regulatory side of things, the Spanish government removed economic barriers to the connection of renewable energy technologies to the electricity grid in 2004 by guaranteeing tariffs and encouraging development as much as possible. As a result of these efforts, Spain is the fourth largest manufacturer of solar technology in the world.
Solar Thin anticipates that growing demand for solar installations in Spain will provide for additional contract opportunities over the coming months. The combination of the company’s new technology and the red hot Spanish market makes this stock one worth watching.
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