Solar Junction receives 5 megawatt order from SolFocus

Wednesday, May 23, 2012

SAN JOSE, Calif., May 21, 2012 /PRNewswire/ -- Solar Junction, a developer of high efficiency multi-junction solar energy cells for the concentrated photovoltaic (CPV) market, announced today an agreement with SolFocus for a 5-megawatt order.

(Logo: http://photos.prnewswire.com/prnh/20120213/SF52000LOGO)

"It is great to see growth in the sales and manufacturing sides at Solar Junction. It's an indication that, ʻtechnicalʼ innovation in solar, will win the day," said Jim Weldon, CEO of Solar Junction. "Our multi-junction solar cell technology provides the pathway to higher efficiency leading to higher performance for CPV system end users."

Solar Junction continues to develop leading high-efficiency solar cells to enhance the competitiveness of concentrated photovoltaics. An optimized cell directly correlates to module performance enhancements and a higher efficiency cell drives LCOE towards grid parity.

"This order evidences SolFocusʼ confidence in Solar Junction and its cell technology, as the companies work to make CPV cost-competitive and sustainable with quality products," said Bob Legendre, President and COO of SolFocus.

This past March SolFocus announced a 50 megawatt project in Baja California, Mexico. The 50 megawatt project is the first tranche of a planned 450 megawatt capacity for the facility. Construction is scheduled to begin in late 2012.

Solar Junctionʼs announcement falls on the heels of a SUNPATH award from the Department of Energy. SUNPATH is part of the DOEʼs SunShot Program, which aims to increase PV manufacturing in the U.S. through investments in technologies that are sustainable with competitive cost and high performance. Earlier this year, Solar Junction signed a manufacturing agreement with IQE and continues on a path to ramp up high-volume manufacturing of its World Record multi-junction solar cell.

About Solar Junction

Solar Junction is a manufacturer of high efficiency III-V multi-junction solar cells based on A-SLAM™ materials. The company is dedicated to providing the industryʼs highest efficiency solar cells to enable CPV as a cost effective energy solution. Founded in 2007, Solar Junction is headquartered in San Jose, California. Investors include New Enterprise Associates, Draper Fisher Jurvetson and Advanced Technology Ventures and IQE. For more information, please visit http://www.sj-solar.com.

About SolFocus

SolFocus is a leading manufacturer of solar energy systems based on Concentrator Photovoltaic (CPV) technology. The companyʼs mission is to deliver the lowest cost of solar energy in high solar resource regions of the world. Achieving this objective starts with developing industry-leading, high-efficiency products which deliver the highest energy harvest of any technology available today. When combined with volume manufacturing and component sourcing the technology drives delivery and operation costs to their lowest. In addition to low costs, SolFocus produces product that provides extended reliability and field durability, critical requirements when deploying energy systems which will remain productive in the field for over 25 years. Currently SolFocus is actively deploying product around the globe. SolFocus products can be seen operating in Mexico, Chile, Arizona, Colorado, California, Hawaii, Italy, Portugal, Greece, Spain, Australia, Saudi Arabia, South Africa and Malaysia. SolFocus CPV systems are certified to the rigorous standards of IEC 62108, and are backed by Munich Re performance insurance. http://www.solfocus.com

SOURCE Solar Junction