MENLO PARK, Calif., July 13 /PRNewswire-Asia/ -- Solar EnerTech Corp. (OTC Bulletin Board: SOEN) (the "Company") today announced that it will appear at Intersolar San Francisco July 14 -16, 2009 under the name SET-Solar Corp, which is the Joint Venture between Solar EnerTech and Jiangsu Shunda Semiconductor. This event marks Solar EnerTech's premier as an exhibitor at an international PV trade show.
SET-Solar Corp commenced operating in May 2009. The joint venture utilizes Jiangsu Shunda Semiconductor's strength in polysilicon and wafer supply with Solar EnerTech's advanced solar cell technologies, resulting in a truly vertically-integrated operation in the U.S. market with services ranging from the production of polysilicon to ingots and wafers, to solar cells, panels and solar system installations.
The Company also announced today that SET-Solar Corp has won its first solar system installation project in the U.S. -- a Power Purchasing Agreement (PPA) project with the charter school system in Hawaii. Ka Waihano school, the site of the installation, is located in the city of Waianae, on the island of Oahu and is located on one of the sunniest areas on the Hawaiian islands where the sunlight is about 650 Kcal/sq-cm. With a goal of being independent from any electrical power grid, the Hawaiian Charter School system requires a total solar power of 4 megawatts. The current installation of 250 KW at the Ka Waihano school will be distributed over 3 buildings and Solar EnerTech's products have been chosen because of SET-Solar's local presence and support. The installation will begin in late July and is expected to be completed in mid-August.
About Solar EnerTech Corp.
Solar EnerTech is a photovoltaic ("PV") solar energy cell manufacturing enterprise incorporated in the United States with its corporate office in Menlo Park, California. The Company has established a sophisticated 63,000 square foot manufacturing plant located in China, in Shanghai's Jinqiao Modern Technology Park. Currently, the Company is capable of producing 50MW of solar cells from its existing production lines.
Solar EnerTech has also established a Joint R&D Lab at Shanghai University to develop higher efficiency cells and to put the results of that research to use in its manufacturing processes. Led by one of the industry's top scientists, the Company expects its R&D program to help bring Solar EnerTech to the forefront of advanced solar technology research and production.
Safe Harbor Statement
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Solar EnerTech undertakes no obligation to update publicly any forward-looking statements.
