Update about Patterned Solar Glass Manufacturing site in Canada
The FEED study was carried out by cm.project.ing GmbH, an internationally recognized independent engineering firm, specializing in glass manufacturing facilities and processes. The market report conducted by Clean Energy Associates confirmed that patterned solar glass panels are the most efficient products on the market and can be expected to dominate industry demand for the next 20 years. Furthermore, the findings included a positive outlook for the long-term price of patterned solar glass in North America, further validating the Company’s business model.
Since the Company’s announcement of its intention to develop North America’s only patterned solar glass manufacturing facility, CPS has received strong levels of industry support for the project. To date, the Company has secured Expressions of Interest for the purchase of solar glass in excess of the first phase of planned facility output.
Highlights of the first phase of the project include:
550 to 600 tonnes per day of patterned solar glass manufacturing and coating facility, capable of supplying up to 4GW of annual solar panel manufacturing with multiple production lines
$400 to $500 million Class 4 capital cost estimate, which provides an 80% certainty level and includes costs for both solar glass manufacturing and sand extraction facilities, and common operating infrastructure for future growth
Approximately $200 million of annual EBITDA based on full production capacity and current solar glass prices of approximately US$12/sq.m which supports an unlevered before-tax NPV10 of approximately $800 million and internal rate of return (IRR) of approximately 25%
“These studies support our decision to build North America’s only patterned solar glass manufacturing facility,” stated Company President, Glenn Leroux. “The business strategy of integrating our high-quality solar spec sand, Manitoba’s inexpensive renewable hydroelectricity, and proximity to our North American customer base through the Winnipeg logistics hub, is a highly attractive business plan that others cannot easily replicate.”