The Olivenza solar power plant, located in Badajoz, Spain, uses SunPower’s single-axis T20 Tracker technology to achieve high return on equity. HgCapital manages the largest European investment fund for renewable power projects; their emphasis is on low-risk, long-term investments, and choosing a SunPower solution made sound financial sense. For this project,they joined forces with Madrid-based Plenium Partners, a highly focussed merchant banking firm that serves as a day-to-day asset manager.Photovoltaic (PV) projects are attractive investments due to their year-on-year stability. Spain has been increasingly developing its solar PV industry and has set up a strong incentive structure with feed-in-tariffs assuring long term returns. SunPower’s vast experience and reliable track record helped the partners meet a tight deadline, and even deliver ahead of schedule.
SUNPOWER: A SINGLE PROVIDER FOR THE ENTIRE PROJECT
The PV industry in Spain tends to be more locally-driven, with the frequent arrival of new start-up companies. In addition, projects are often distributed across multiple suppliers. As the investors were analysing various providers, they learnt that SunPower is a leader in the PV industry -able not only to provide the technology, but also to manage engineering, procurement, and construction
. Given SunPower’s proven track recordin numerous projects of this complexity and significance, the investors entrusted the entire project to SunPower - an experienced provider which takes pride in its work.
SUNPOWER T20 TRACKER ENABLED QUICK INSTALLATION TO MEET DEADLINES
Timing was essential for the Olivenza project to meet the Spanish government’s mid-2008 cut-off date for a lower feed-in tariff. This fuelled the choice to use SunPower’s patented T20 Tracker
for the site, which uses pre-cast concrete foundations that simplify installation without requiring ground penetration. SunPower Trackers also provide higher energy yields and require lower maintenance than conventional single-axis systems.
||SunPower® T20 Tracker (14 MWp), T0 Tracker (4 MWp)
|Solar Park area:
|Power plant design, Installation and Maintenance:
- System performance has exceeded initial estimates
- SunPower T20 Trackers increase sunlight capture by up to 30% versus conventional fixed-tilt systems
- SunPower T20 Trackers are quicker to install than other systems,enabling the investors to apply for and take advantage of the attractive 2008 feed-in-tariffs valid over the lifetime of the project.
- Solid projections can be made on the panel performance, making it a very attractive long-term investment
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SunPower provided - and met - a strong commitment that they would complete construction on time.
Iñigo GortazarPlenium Partners