Solargise has signed contract with the City of Salaberry-de-Valleyfield to purchase land for phase 1 of its solar panel manufacturing project

MONTREAL, Sept. 26, 2018 /CNW Telbec/ - Solargise Canada Inc. announces signing of contract with the City of Salaberry-de-Valleyfield to acquire land large enough to carry out phase 1 of its project for the construction of solar panels without plastic with annual capacity of 1GW. The amount of initial payment for land represents 25% of the purchase price.

Estimated at approximately $950 million CAD, the first phase involves the hiring of up to 450 direct employees. It includes the construction of buildings for the production of polysilicon ingots, wafers, HIT photovoltaic cells, as well as plastic-free glass photovoltaic solar panels. The construction of the first phase will require the hiring of 600 workers.

The acquired land is zoned industrial, and benefits from close proximity to railway line, Hydro-Québec substation and the Port of Valleyfield. The City of Salaberry-de-Valleyfield has ensured complete collaboration in order to facilitate the rapid and efficient implementation of the planned factory. In addition, the City has committed to supporting any high voltage power line projects required to supply electricity to the Solargise endeavor.

Mr. Raj Basu, Executive Chairman of Solargise, is pleased with this important step forward. "We have found a site that meets all of our selection criteria. We intend to begin construction  of phase 1 in mid-2019 after obtaining the necessary authorizations". He also thanks the City of Salaberry-de-Valleyfield for its timely, efficient and valuable collaboration.

Solargise is currently evaluating sites for the phase 2 of the project, which consists of the construction of an 11N semiconductor grade polysilicon plant, MgSi (metallurgical grade silicon) facilities and glass plant.

Solargise's high efficiency solar panels stand out for their innovative two-layer glass sealing technology on photovoltaic cells, minimizing efficiency losses. For the first time, solar panels will not contain any plastic.

Magil Construction, NATIONAL Public Relations, AON Risk Consultants Inc., Norton Rose Fulbright and DLA Piper have supported Solargise with strategic counsel for this green project.

SOURCE Solargise Canada Inc.

Frédérick Truchon-Gagnon, [email protected], 438 350-1001