NEW ORLEANS, LA - December 11, 2007 : - GE Energy will provide 200-watt solar modules to IBERDROLA INGENIERIA Y CONSTRUCCION, one of Spain's largest energy engineering companies, for projects that will add 11.6 megawatts of solar capacity for the country's electricity grid by the end of the year.
As the engineering, procurement and construction (EPC) contractor, IBERDROLA INGENIERIA Y CONSTRUCCION plans to install the GE modules in ground-mounted arrays for several projects around the Extremadura Autonomous community of western Spain. IBERDROLA INGENIERIA Y CONSTRUCCION also utilized the services of the Spanish Energy and Environmental Research Center (CIEMAT), which conducted tests on the panels.
"As the global solar industry continues to grow, we are pleased to be partnering with IBERDROLA INGENIERIA Y CONSTRUCCION to help increase solar installations in Spain. This contract places us in a strong position within the Iberian Peninsula's solar market," said Victor Abate, vice president of renewables, GE Energy. "We also are poised to help support the growth of the solar industry throughout Europe."
The GEPVp-200 solar modules that will be supplied for the new projects in Spain reach peak power of 200 watts at 26.3 volts, allowing for a maximum system voltage of 1,000 volts. Designed for commercial solar applications, a 200-watt solar module uses 54 polycrystalline cells connected in a series. Offering higher output per square foot, the 200-watt module speeds the installation process by reducing the amount of racking and labor associated with a large solar array installation.
The solar sector is experiencing significant growth in Spain. The Spanish Real Decree, which sets the future scenarios for renewable energy and especially for solar, established a goal of 400 megawatts to be reached by 2010. Plans for a new target of 1,200 megawatts are currently being reviewed.
IBERDROLA INGENIERIA Y CONSTRUCCION is owned by IBERDROLA, the fourth largest utility in Europe with a market cap of approximately 50,000 million. IBERDROLA INGENIERIA Y CONSTRUCCI"N is one of Spain's largest energy engineering companies, with a staff of 1,500 people and 2006 net earnings of 33.3 million, up 22.4% from the previous year. Its turnover swelled by 35.3% in the year to 648.8 million, and projects in its pipeline at the end of 2006 year were worth approximately 2.5 billion.
Solar power is among the renewable energy technologies that play a key role in ecomagination, GE's corporate-wide initiative to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water. Under ecomagination, which was launched in May of 2005, GE will invest $1.5 billion annually in research in cleaner technologies by 2010, up from $700 million in 2004.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2006 revenue of $19 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
For more information, contact: Kristin Schwarz GE Energy +1 518 385 7343 kristin.schwarz@ge.com
Howard Masto or Beth Coffman Masto Public Relations +1 518 786 6488 howard.masto@ge.com beth.coffman@mastopr.com Company Information: Name: GE Energy Address: 4200 Wild Wood Pkwy City: Atlanta State: GA ZIP: 30339 Country: USA Phone: 877-PWR4RNT http://www.gepower.com
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