Soitec secures financing for 50-megawatt solar power plant in South Africa

“Soitec (Euronext), a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries, has secured financing from Investec Bank Ltd., one of the leading investment banks in Africa, to build the company’s planned 50-megawatt peak*solar power plant in Touwsrivier, Western Cape, South Africa. Investec has committed to finance the project and raise the equity to construct the plant, which will be equipped with Soitec’s fifth-generation Concentrix(TM) concentrator photovoltaic (CPV) systems. All financial arrangements are expected to be finalized by the end of the second quarter of 2012.”