Spain Solar Farm Project expands Sopogy’s global strategy

January 12, 2009
Business News - Local News

Pacific Business News (Honolulu) – by Nanea Kalani Pacific Business News


Christina Failma, PBN

Sopogy CEO Darren Kimura says the lack of financial incentives in the United States has forced him to become more global.

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Building a multimillion-dollar solar farm in Europe over the next two years is part of Honolulu-based Sopogy‘s strategy to get its solar technology deployed around the world.

The company announced last week that it will build a 50-megawatt system in Toledo, Spain, using its proprietary technology in partnership with a German energy financier and a Spanish project developer. The system could generate enough electricity to power 15,000 homes.

Sopogy founder and CEO Darren Kimura said the Spanish project, expected to be completed by the end of 2010 and cost about $300 million, is part of the company’s plans to expand its presence abroad as the U.S. financial market wanes.

“For about a year now, Sopogy has felt that it’s necessary to diversify and become more global,” Kimura told PBN. “Because our technology offers higher production and lower capital costs, we’re looking for sites where our technology has the best value, and the best value today lies in the European market.”

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