CPV producer, Soitec has partnered with Saudi Arabian investment company, Khaled Juffali Company (KJC) to pursue projects in Saudi Arabia and the Middle East.
Sheik Khaled Juffali, founder and chairman of KJC said: “Soitec holds a leading position in the CPV industry with a pipeline of projects totaling hundreds of megawatts in the USA and South Africa and operates in 14 countries around the world, including a demonstration system at the Medina College of Technology (MCT) in Saudi Arabia. Thanks to Soitec’s leading CPV technology, our partnership will have a true competitive advantage and help to realize the Kingdom’s high solar potential. CPV is indeed perfectly suited for countries which benefit, like Saudi Arabia, from intensive solar radiation.”
Soitec also reported a 19% drop in total sales for financial year, 2012 to €262.8 million. Its CPV division reported annual sales of €5.8 million, down 15.5% from the prior year.
The company noted delays in securing the project finance for its 44MW CPV project in South Africa, though that finance had been completed. Soitec had a US project pipeline of around 355MW.