SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - April 21, 2009) - OPEL International Inc. (TSX VENTURE:OPL - News; "OPEL"), a leading global developer and supplier of high concentration photovoltaic ("HCPV") and other solar products, including ground-based and rooftop tracker systems, today announced that BETASOL, its Spanish partner, has expanded its HCPV opportunity in Spain and has obtained a bank aval or guarantee of more than US $1,500,000 (1,187,500 EUR) for a new HCPV solar project. As a result, BETASOL has applied for permits to build a new utility grade solar farm. BETASOL's business is building utility grade solar farm installations for subsequent sale to investor groups. The solar farm will provide a total of 2.375 megawatts (MW) of solar power to the region generated by solar high concentration photovoltaic panels on dual axis tracking systems. "Once the permits are obtained for this deployment of 2.375 MW of HCPV generated solar power, this will bring meaningful advancement and institutionalization of HCPV installations into the region's solar marketplace and is another significant accomplishment for OPEL, internationally" said Robert Pico, CEO of OPEL International. "We are enthused that our relationship with BETASOL is expanding and that we are able to continue to report on our progress in Spain with this leading solar technology." According to company officials, OPEL will supply the grid farm installation with its original design Mk-I high concentration photovoltaic panels mounted on dual axis trackers manufactured by OPEL. "The Mk-I HCPV panel design is highly cost effective and concentrates light from the sun more than 500 times," Pico said. "This product has conversion efficiency up to twice that of silicon flat plate solar panels and more than three times that of thin film solar panels, making it the optimum solution for solar grid field installations," he said. "The use of OPEL's energy efficient panels together with Spain's feed-in tariff structure allows attractive rates of returns for solar projects." "We at BETASOL are very pleased to expand our partnership with OPEL, one of the leading HCPV suppliers in the world," said Jesus Cabetas, Managing Director of BETASOL. "OPEL's outstanding panel efficiency allows for increased investor interest and attractive rates of returns on our Spanish solar projects." OPEL previously announced the shipment of its Mk-I HCPV panels for the first BETASOL installation. Shipment began in December 2008, and is scheduled for completion in the second quarter of 2009. About OPEL International With operations headquartered in Shelton, Connecticut and Toronto, Ontario, Canada, OPEL designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40 percent more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost-effective electricity generated from the sun. OPEL also markets a complete line of dual and single axis solar trackers to mount solar panels for optimum power output. OPEL also designs infrared sensor type products for military and industrial applications. A leader in gallium arsenide and solar photovoltaic technology, OPEL has been awarded 31 patents and has 15 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. Dated: April 21, 2009 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. |
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