Tegal Announces Sequel Power-Table Rock Capital Partnership To Advance Utility-Scale Solar Projects
14 Septembre 2011 - 1:08PM
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 established a strategic alliance with Table Rock
Capital (TRC), an independent private equity fund
manager focusing on investments in infrastructure assets
located in the U.S. and other OECD countries.
The alliance is designed to accelerate the development of
several utility-scale projects currently in Sequel Power’s
pipeline. Currently, Sequel Power has more than a dozen active
projects with major partners in various stages of analyzing and
developing solar utilities in six different countries within the
global sunbelt. TRC, which has financed, developed and managed more
than 200 large-scale energy projects, is focusing initially on
Sequel Power’s projects in the Americas.
“This partnership brings together the proven investment
capabilities of TRC, the innovative utility-scale development
approach of Sequel Power and several decades of capital equipment
expertise of Tegal,” said Thomas Mika, Tegal’s President and Chief
Executive Officer. “We expect the combination of all these
attributes to provide a significant value to Sequel Power projects
for years to come.”
“Sequel Power’s growing pipeline is largely made up of PV-based
utility-scale solar projects of 1,000+ megawatts (1GW) – all of
which are designed to be cost-competitive with conventional energy
sources,” said Sequel Power President and Chief Executive Officer
Ferdinand Seemann. “At that scale, there are few partners who have
the financial and technological capabilities of TRC. We are
extremely pleased to be joining forces with TRC on some of the most
important solar power initiatives in the world.”
TRC invests in Brownfield, Rehabilitative Brownfield
and Greenfield transactions within its targeted sectors, which
include transportation, social infrastructure, water and waste
treatment, energy and communications. San Francisco-based TRC was
formed to capitalize on the significant experience of its
management team, which has been sourcing, evaluating, structuring,
managing and divesting infrastructure investments for more than
three decades.
“TRC has a long, successful track record in asset formation,
capitalization and management of substantial infrastructure
investments,” said Peter Luchetti, Managing Partner of TRC. “Sequel
Power’s large, utility-scale solar power projects have
extraordinary potential, and they are an excellent fit for
TRC.”
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.
About Table Rock Capital
Table Rock Capital (TRC) is an independent private equity fund
manager focusing on investments in infrastructure assets
located in the U.S. and other OECD countries. More information may
be obtained at www.t-rockcap.com.
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