PETALUMA, Calif.--(BUSINESS WIRE)--Tegal Corporation (NASDAQ:TGAL) today announced that Sequel Power, its portfolio company dedicated to the development and operation of large scale photovoltaic (PV)-based solar utility projects, has been invited to be a major sponsor and panelist of the October 23-24 Solar Arabia Summit at King Saud University in Riyadh, Saudi Arabia.
The event combines some of the world’s leading authorities on solar energy and key policy-makers, Government officials, investors and business conglomerates involved in shaping Saudi Arabia's solar energy future. The Kingdom of Saudi Arabia is investing $100 billion in solar energy to achieve its goal of 5 gigawatts of solar-generated power by 2020.
Sequel Power representatives will be among the primary speakers and workshop panelists at the summit, which is one of the global solar industry’s most important and exclusive gatherings of project developers, technology manufacturers and investors. Up to 150 invited Chairpersons, Presidents, owners, c-level directors and investment executives from the largest financial institutions in the industry are attending, according to conference organizers.
Saudi solar initiatives are prominent among more than a dozen projects Sequel Power has with major partners in six countries.
“Saudi Arabia’s $100-billion initiative is tailor-made for the utility-scale expertise of Sequel Power,” said Thomas Mika, Tegal’s President and Chief Executive Officer. “Sequel Power was invited to have a prominent position at the Summit because it focuses on PV-based utility-scale solar projects of 750+ megawatts (0.75 GW). Utility-scale projects on that scale are of a size that matches the ambition of Saudi Arabia.”
“The Summit enables the Saudi government, Sequel Power and industry officials to collaboratively define a renewable energy implementation plan within the Kingdom’s $100-billion initiative,” said Sequel Power President and Chief Executive Officer Ferdinand Seemann. “The plan is designed to focus in part on large-scale, green-field projects. We have been meeting with energy leaders in Saudi Arabia since 2008, and input from these discussions have contributed significantly to the cost-effectiveness and high reliability of Sequel Power’s large-scale utility PV solutions.”
About the Solar Arabia Summit
The Solar Arabia Summit is bringing together the key policy-makers, Government officials, investors and business conglomerates involved in shaping Saudi Arabia's solar energy future. This will mean an opportunity to capitalize on the Kingdom's investment of US$100 billion in the solar energy sector and an objective to achieve 5 gigawatts of solar generated power by the year 2020. More information may be found at www.solararabiasummit.com.
About Tegal
Since its founding in 1972, Tegal Corporation has been dedicated to the development and application of emerging technologies. Often on the forefront of major inventions, Tegal’s process and capital equipment know-how enabled the development and manufacturing of leading-edge devices – from early microprocessors to advanced memory and LEDs, as well as to newest filtering and sensing devices that are present in the most advanced smart phones. Through its recent investment in sequel Power, Tegal is engaged in the promotion of solar power plant development projects worldwide and other renewable energy projects. In addition, Tegal is actively evaluating opportunities for partnerships with other diversified technology-based companies in order to exploit our shared experience and to enhance our value as a public company. Tegal is headquartered in Petaluma, California. Please visit us on the web at www.tegal.com.
About Sequel Power
In 2011, Tegal formed, along with Se2quel Partners LLC, a new company dedicated to the development and operation of large scale photovoltaic (PV)-based solar utilities in the United States, Latin America, the Middle East and Africa. Currently, Sequel Power has more than a dozen active projects in six countries with major partners in various stages of analyzing and developing solar utilities. More information may be obtained at www.sequelpower.com.