SOITEC : South African Department of Energy granted preliminary approval to change in financing structure for Soitec 44 MWp solar project
South African Department of Energy
granted preliminary approval to change
in financing structure for Soitec
44 MWp solar project
Bernin, France, 12(th) March 2014 - Soitec (Euronext Paris), a world leader in
generating and manufacturing revolutionary semiconductor materials for energy
and electronics, today announced that the Department of Energy in South Africa
has granted its preliminary approval to a refinancing scheme for Soitec's equity
position in the 44 MWp solar project developed in Touwsrivier.
This preliminary approval sets the path for the finalization of the terms and
conditions of the final transaction, pursuant to which the shareholding of the
project company shall ultimately evolve to include an already-identified
investor. Subject to final Department of Energy approval, and in light of  the
anticipated calendar for the finalization of such transaction, , Soitec
anticipates being in a position to disclose its 2013-2014 full year sales report
including actuals and /or pro-forma audited figures related to its South African
solar project.
Soitec also confirms that power performance testing procedures have recently
been engaged on the already installed solar capacity of the Touwsrivier plant,
with a view towards fulfilling the milestones set for delivering 50% of the
total capacity of the power plant. Reaching this point shall entitle Soitec to
have access to the restricted cash and significantly increase its cash
resources. Soitec anticipates confirming in the coming weeks successful
fulfilment of the requested milestone.
Agenda
Full Year sales for the financial year 2013-2014 will be published on 22 April
2014 after the closing of the Paris Stock Exchange.
About Soitec:
Soitec is an international manufacturing company, a world leader in generating
and manufacturing revolutionary semiconductor materials at the frontier of the
most exciting energy and electronic challenges. Soitec's products include
substrates for microelectronics (most notably SOI : Silicon-on-Insulator) and
concentrating photovoltaic systems (CPV). The company's core technologies are
Smart Cut(TM), Smart Stacking(TM) and Concentrix(TM), as well as expertise in
epitaxy. Applications include consumer and mobile electronics, microelectronics-
driven IT, telecommunications, automotive electronics, lighting products and
solar power plants for large-scale utilities. Soitec has manufacturing plants
and R&D centers in France, Singapore, Germany, and the United States.
For more information, visit: www.soitec.com.
For all information, please contact:
Investor Relations International Media
Contact Contacts
Olivier Brice (Business press)
(Trade press)
+33 (0)4 76Â 92Â 93Â 80 Marylen Schmidt
Camille Dufour
olivier.brice@soitec.com + 33 (0)6 21 13 66 72 +33Â (0)6Â 79Â 49Â 51Â 43
camille.dufour@soitec.com
marylen.schmidt@soitec.com
Soitec press release in PDF:
http://hugin.info/143589/R/1768111/600883.pdf
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