Paris, France.--September 18, 2009-- Thanks to its strong partnership with its clients in Europe, Upsolar’s PV modules are now installed in large projects in Portugal.
Grupo Generg, one of the Portugal’s leader in renewable energy project development, has invested 50 Million Euros in the construction of a solar central in Ferreira do Alentejo in South East Portugal. These 58 hectares of solar panels supplied by Upsolar will be sufficient to cover the energy needs of the 9,000 people village.
This project of 12 MW consists in 2 phases. The first one is already successfully installed, and the second one is on-going and will be finished for the end of 2009.
Since Upsolar’s launch in 2006, the company has grown rapidly, with over 60 MW shipped in 2008 and revenues of $165 million Euros, which the company expects to double by the end of 2009 by delivering 120 MW. Upsolar estimates sustained growth in 2010, increasing production-line capacity to 300 MW.
Upsolar is a multinational company specialized in the design, engineering and manufacturing of solar photovoltaic modules. Upsolar's strength is the development of strict quality control in its manufacturing process to provide worldwide customers with reliable, excellent products for all residential, commercial and utility-scale projects. Using top-quality module components from highly qualified international manufacturers ensures the delivery of consistent product quality. Upsolar aims to provide the most reliable and cost-competitive PV modules to its customers.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements, and include the ability of Upsolar Co.,Ltd to reach the previously mentioned estimates, moving forward. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.