news digest ♦ Solar of such state.
Are First Solar set to expand?
Possibly. The cadmium telluride (CdTe) solar specialist has made an underwritten public offering and says the cash may be used to acquire under development photovoltaic solar power system projects
First Solar has announced the pricing of an underwritten public offering of 8,500,000 shares of its common stock at a price of $46.00 per share.
In addition, First Solar has granted the underwriters a 30-day option to purchase up to 1,275,000 shares of common stock.
First Solar intends to use the net proceeds from the offering for general corporate purposes. These may include acquisitions of under development photovoltaic solar power system projects, investments in photovoltaic solar power system projects that will be jointly developed with strategic partners and capital expenditures or strategic investments to develop certain business units and expand in new geographies.
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Merrill Lynch and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering. Credit Suisse, HSBC, Credit Agricole CIB and Goldman, Sachs & Co. are also acting as book-running managers for the offering. Lazard Frères & Co. LLC acted as financial advisor to First Solar.
The shares are being offered pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on June 11th 2013. A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at
http://www.sec.gov.
Saudi Aramco chooses Soitec’s solar-energy technology
Khaled Juffali company has announced a 1 MW project with the world’s largest oil producer. It aims to test CPV technology for future utility-scale installatins and lay solid groundwork for new solar projects in Saudi Arabia
140
www.compoundsemiconductor.net July 2013
Oil company Saudi Aramco has decided to use Soitec’s concentrating photovoltaic (CPV) technology for a 1-megawatt solar-energy pilot plant in Saudi Arabia’s northwestern Tabuk region. This project with the world’s largest oil producer is the first business win for KJC and Soitec since the two companies signed a joint agreement in April to cooperate in driving solar-industry growth in Saudi Arabia and the Middle East.
Following a competitive tender process and a rigorous evaluation of various equipment suppliers, the oil and chemical giant selected Soitec’s CPV technology based on its perfect fit with the region.
Soitec’s Concentrix technology uses III-V multi-junctions for one of the most efficient of solar cells.
Saudi Aramco’s two-fold objective for this project is to successfully complete the work on schedule while testing the performance of CPV technology to better assess its levelised cost of energy (LCOE) advantage for future utility-scale installations.
“This win is a major breakthrough in the solar market and a great testimony to the ability of Soitec’s highly performing solar technology to deliver the highest competitive advantage under desert conditions,” says Sheik Khaled Juffali, founder and chairman of KJC.
“Being successful in winning this project with Soitec lays the groundwork for some additional very exciting projects as we establish a baseline of support for developing a solar-energy market in Saudi Arabia.”
“We have made dedicated efforts in recent months to position ourselves in Saudi Arabia and to bring to the country a strong offering. We are very proud to have been selected in this first CPV tender and we look forward to a fruitful cooperation with Aramco,” comments Gaetan Borgers, executive vice president of Soitec Solar Division. “This proof of confidence by the largest worldwide oil producer confirms Soitec’s leading-edge technology and is further evidence of our company’s technological and business innovations.”
BELECTRIC Saudi Arabia LLC, a worldwide leader in the development and construction of utility-scale solar power plants, has developed the project based on Soitec’s technology and will build the plant. BELECTRIC has connected more than a gigawatt of utility-scale solar power plants worldwide. The company has proven its expertise and capabilities in Saudi Arabia, having built the country’s largest solar power plant at Saudi Aramco’s headquarters.
CPV technology is designed for high performance in sunny regions such as Saudi Arabia, delivering
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179