Moody's rates at Baa2 Soitec's 44-MWp CPV S African project

Dec 12, 2012 - France-based silicon-on-insulator wafers maker Soitec SA (EPA:SOI) today said its 44-MWp concentrated photovoltaic (CPV) solar project in South Africa had received a provisional rating of Baa2 from Moody's.

The Touwsrivier project was rated at Soitec's request for potentially raising funds on the capital markets. The rating action comes in relation to the financing of the project.

Soitec last month signed a power purchase agreement with South African state-owned utility Eskom for the Touwsrivier power plant, which will be built in the Western Cape, close to the Aquila Private Game Reserve. The facility is due to be completed in 2014, but power generation will start as early as mid-2013.

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