Energy Conversion Devices Announces 4.8-Megawatt Solar Project in Spain ECD Selected by Recurrent Energy for Eight ProLogis Solar Rooftop Installations
ROCHESTER HILLS, Mich., Oct. 5, /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, today announced it has been selected by Recurrent Energy to deliver 4.8MWp of solar generating systems for eight separate building rooftops at ProLogis Park Sant Boi in Barcelona and ProLogis Park Alcala in Madrid, Spain. ECD will be supplying its UNI-SOLAR photovoltaic (PV) laminates and providing development resources through its Solar Integrated subsidiary.
The solar power systems will be owned by Recurrent Energy, a distributed power company and a leading provider of solar energy, and installed on rooftops leased by Recurrent Energy from ProLogis, a leading global provider of distribution facilities. Construction on the project is expected to start in October 2009.
ProLogis, a leading global provider of distribution facilities, currently has UNI-SOLAR systems installed on facilities in the U.S., Spain and France. "We are very pleased to continue our relationship with UNI-Solar and SIT through this project," said Drew Torbin, director of global renewable energy for ProLogis. "We look forward to working with the company closely over the next several months as we bring this project on line."
"This new agreement is the first example of the benefits of combining our leading UNI-SOLAR PV laminate product with the rooftop solar expertise of Solar Integrated. This project also demonstrates how we will work closely with Recurrent Energy and our key channel partners--in this case Soprema and its dedicated subsidiary Solardis--to provide innovative solutions that meet the needs of our customers and their roofs," said Mark Morelli, president and chief executive officer for ECD.
For this project, Solar Integrated will engineer, procure, and construct the solar PV systems totaling 4.8 megawatts for Recurrent Energy. The PV systems will consist of UNI-SOLAR laminates combined with the SOPRASOLAR complex - a bituminous waterproofing system, and will be applied directly on the roofs. Installation will be done by Soprema's local installer Master Renovables.
About Energy Conversion Devices
Energy Conversion Devices is a leader in building integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR(®) brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. Through its Solar Integrated Technologies business, the company also designs, manufactures and installs rooftop photovoltaic systems which enable customers to transform unused space on the rooftop into a value-generating asset. For more information, please visit www.energyconversiondevices.com.
This release may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: our ability to maintain our customer relationships; the worldwide demand for electricity and the market for solar energy; the supply and price of components and raw materials for our products; and our customers' ability to access the capital needed to finance the purchase of our products; and risks associated with integrating Solar Integrated Technologies, Inc. The risk factors identified in the ECD filings with the Securities and Exchange Commission, including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.
SOURCE Energy Conversion Devices, Inc.