T-Solar Initiates Expansion in South Africa

MADRID, April 17, 2012 /PRNewswire/ --

• The company has presented a bid in the second round of the South African programme for development of renewable energies and is preparing for the third round
  
• Its partners are the financial institution, IDC, and the companies: Green Continent Partners, GCBG Solar and Zungu Investments Company (ZICO).
  
• The T-Solar Group (T-Solar) develops and manages more than 230 MW in operation and under construction in Spain, Italy, India and Peru.

T-Solar is a major operator on the international solar-photovoltaic power market. Its 43 operating plants have a total power of 173 MW. It operates 34 plants in Spain, 8 in Italy and one in India and is continuing to broaden its international footprint with the development of new photovoltaic projects in South Africa.

T-Solar has just presented a bid in the second round of the South African government's programme for developing renewable energies, along with Green Continent Partners and the South African companies, IDC, GCBG Solar and Zico.

Marta Martínez, T-Solar CEO, states: "We consider South Africa to be a strategic market for T-Solar. Our company aims to grow at around 100 MW a year. Right now, we have 5 MW already online outside Europe, with a further 12 MW under construction in India and 44 MW in Peru. We are also analysing opportunities in Mexico, Puerto Rico, the USA and India."

T-Solar is also a member of the Renewable Energy Promotion Consortium in South Africa, whose aim is to promote the "Spanish Renewable Energy" brand in South Africa.

ABOUT T-SOLAR

T-Solar is a major independent power producer generating solar photovoltaic energy. A subsidiary of Isolux Infrastructure, it has 173 MWp installed capacity under production in 43 plants, located in Spain (34), Italy (8) and India (1), plus a further 56MW under construction in India and Peru.  Its PV plants currently generate over 250 GWh a year. This is equivalent to the average annual electricity consumption of a town of 55,000 households. In 2011, T-Solar obtained more than €125m in revenues, while its aggregate capex reached more than €1.2 bn. The T-Solar has a factory in Spain where it produces the largest solar modules in the market (5.7m2) using thin-film amorphous hydrogenated silicon technology to reduce costs and boost performance ratios. The factory is fully automated with state-of-the-art technology. Its current production capacity is over 60 MW a year. For further information: http://www.tsolar.com