OPEL Solar, Inc.

OPEL Solar, Inc.
OPEL Solar International Inc.

OPEL Solar International Inc.

December 01, 2010 16:21 ET

OPEL Solar Announces Project for Toray Plastics (America), Inc.

Receives Purchase Order for a Turnkey 446 Kilowatt Solar Field at Rhode Island Manufacturing Plant

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - OPEL Solar, Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and other solar products including ground-based and rooftop tracker systems, today announced it has reached agreement to begin construction on a 446 kilowatt (kW) solar power plant at the 70-acre headquarters of Toray Plastics (America), Inc. ("TPA") in North Kingstown, Rhode Island. This new utility field represents Toray's first solar installation in the U.S. and will be one of the largest utility grade solar plants in Rhode Island. Toray Plastics chose OPEL Solar's solution because of its higher energy production and lowest cost per kilowatt-hour generated. This higher system efficiency is largely due to OPEL's utility scale single axis tracker – the TF-800, which significantly increases the energy output of any type of photovoltaic ("PV") panel.

Toray's solar project is a significant achievement for OPEL Solar. Not only does the Toray agreement represent a multi-million dollar contract for OPEL, but just as important, it is the first implementation of OPEL's new strategic business directions. In addition to the brownfield initiative announced several months ago, OPEL is also pursuing being a full service provider for select solar projects.

The solar field will be comprised of 1650 PV panels mounted on 50 of OPEL Solar's TF-800 utility scale single axis trackers. Toray Plastics recognized the benefits of adopting a solution which would result in 20 percent higher energy output than that of conventional fixed-mounted PV panels. "The reverse tracking capabilities of the TF-800 also allow a more efficient use of the land by avoiding shadowing on the PV panels at any time during the day and throughout the year," said Frank Middleton, COO of OPEL Solar, Inc. "The modular design of the TF-800 results in quick and cost effective installation by craft people without the need of special machinery or welding equipment, significantly reducing installation costs," added Middleton.

The Toray Plastics solar field is expected to generate 625 Megawatt Hours (MWh) per year, which is the equivalent of supplying electric power for an entire year to more than 100 homes. Also, this will be a solar project that puts Rhode Island employees to work constructing an advanced solar field. Using a ground mounted tracking system affords the opportunity to have workers learn new skills for the clean economy. The Toray & OPEL Solar installation showcases all the important elements that clean solar energy offers as an alternative to fossil fuels.

"OPEL Solar is pleased to collaborate with Toray Plastics to bring solar energy to its facilities, starting with their headquarters, while also creating jobs in Rhode Island as construction begins," said Leon M. Pierhal, CEO of OPEL Solar, Inc. "As the overall project manager leading the team responsible for construction of Toray Plastics' new solar field, we believe OPEL Solar offers the best solar solution available, and that our work together will provide an excellent model for OPEL and Toray to advance solar energy usage in the future."

"Toray has multiple locations throughout the U.S.; thus we are optimistic that our successful collaboration in Rhode Island may lead to additional solar projects," he added.

Toray Plastics is a solid example of using American Recovery and Reinvestment Act funds provided by both the Federal and state governments to create new clean energy sources and new jobs. The project is eligible for both Federal funds and state funds awarded by the Economic Development Commission for the State of Rhode Island. Project design and equipment orders will commence immediately, with construction slated to begin in the spring of 2011.

About Toray Plastics (America), Inc.

Founded in 1985, Toray Plastics (America), Inc.'s (TPA) capacity to bring polypropylene and polyester innovations to market has grown exponentially. TPA has invested more than $650 million in our U.S. operations, increasing our production capacity by over 1000% in the past 20 years.

The 70 acre campus in North Kingstown, Rhode Island houses corporate headquarters and the most advanced film facility of its kind in North America. This world class ISO 9001-2000 certified manufacturing environment with state-of-the-art clean room facilities continues to set records for cleanliness, purity and productivity.

With the addition of new facilities in Europe and Southeast Asia, Toray now has a total of 8 full-scale film production sites. Our plants are streamlined, technologically advanced, and equipped with the capability to add value beyond just film production. As a result, TPA can respond to market demands for flexibility, quality, innovation, and low-cost in a manner that is both timely and proficient.

About OPEL International and OPEL Solar, Inc.

With OPEL Solar, Inc. operations headquartered in Shelton, CT and the headquarters office in Toronto, Ontario, Canada, OPEL designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL also markets a complete line of dual and single axis solar trackers to mount solar panels for the optimum power output. OPEL designs infrared sensor type products for military, consumer, industrial and commercial applications.

A leader in gallium arsenide and solar concentrating photovoltaic technology, the Company has been awarded 33 patents and has 17 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.


Michel Lafrance, Secretary

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning OPEL's anticipated operational plans and activities including the revenue and growth outlook.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by OPEL's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of OPEL's anticipated projects, delays or changes in plans with respect to the development of OPEL's anticipated projects by OPEL's third party relationships, risks affecting OPEL's ability to execute projects and market its solar products, risks inherent in operating in foreign jurisdictions (if applicable), the ability to attract key personnel, and the inability to raise additional capital. Additional assumptions and risks are set out in detail in OPEL's Annual Information Form, available on SEDAR at www.sedar.com.

Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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