July 23, 2009

Vancouver, BC, Canada: GreenWing Energy Signs CPV Agreement with SolFocus

GreenWing Energy Management has signed an agreement with SolFocus, Inc. for SolFocus to supply high concentration photovoltaic (CPV) systems for GreenWing’s large-scale solar power projects in the western United States. The agreement marks an important expansion of GreenWing’s business into the rapidly growing solar energy sector.

GreenWing will continue to develop its portfolio of wind energy projects in the U.S. and Canada. GreenWing intends to install the SolFocus CPV systems in both new utility-scale projects (20-300MW) and larger distributed generation applications (1-20MW).

The SolFocus CPV design employs a system of patented reflective optics to concentrate sunlight 650 times onto small, highly efficient solar cells. The SolFocus 1100S system uses approximately 1/1,000th of the active, expensive solar cell material compared to traditional photovoltaic panels. In addition, the cells utilized in SolFocus CPV systems have over twice the efficiency of traditional silicon photovoltaic cells. In solar-rich regions, the SolFocus CPV technology yields efficiencies that help solar power costs approach parity with fossil fuel generation.

“SolFocus CPV systems have demonstrated exceptional solar energy conversion rates,” explained GreenWing’s Vice President of Business Development Matt Penry. “These best-in-class efficiencies combined with a low-cost manufacturing program by SolFocus facilitate the generation of cost-competitive solar energy.”

SolFocus CPV panels are ground mounted on two-axis trackers which optimize capture of the sun’s energy and provides for near full capacity power production during all daylight hours. The SolFocus CPV design also provides for numerous important environmental benefits when compared to other solar power generation technologies including next to no water usage, a very small footprint, emissions free electricity, no noise from sites, no permanent shadowing or wildlife corridor interruptions, and no disruptive solar glare.

“Solar energy production in the high solar resource regions of the world is projected to grow at an annual rate of over 40% or nearly twice the rate of the traditional solar markets. GreenWing and SolFocus are ideally positioned to participate in this exciting and rapidly growing market segment and provide customers with a cost competitive and environmentally responsible solution,” added Penry.

“It is with great pride and high expectations that we announce this agreement with GreenWing Energy,” commented SolFocus President and CEO Mark Crowley. “GreenWing possesses a demonstrated, high level expertise in project development as well as in building, developing and managing relationships with customers and service providers. These capabilities are extremely valuable to SolFocus as we accelerate our volume equipment production program in the upcoming months.”

“This agreement clearly illustrates GreenWing’s commitment to PV technology and the significant environmental and economic benefits that it presents. GreenWing is confident that the energy conversion efficiencies and modest environmental impacts of the SolFocus technology will represent a competitive advantage for GreenWing in providing our customers with a reliable and cost-competitive renewable energy product for many years to come,” stated Dan Allard, CEO of GreenWing Energy Management Ltd.

Further details about: GreenWing Energy Management and SolFocus