22 August 2007 - Spanish Grupo Ibereolica has signed an agreement with Clean Hydrogen Producers (CHP) of Switzerland, outlining the planning, permitting and appraisal of CHP's Solar Water Cracker technology in Spain and Mexico.

The pre-sale agreement details terms that grant Ibereolica an exclusive license right to promote, install and manage solar energy plants in Spain and Mexico, using the CHP Solar Water Cracker system, for a period of 20 years.

CHP, which is based in Geneva, is a development-phase alternative energy company. Its technology uses solar energy to crack the water molecule into hydrogen and oxygen, for a much higher energy conversion rate from solar into electricity. The system is efficient, cheap in production, modular and allows storage of energy for later release.

Ibereolica is an established provider of wind energy, with three wind farms in Zamora and a share in Parque Eolico El Moral. The company has a further 800 MW in promotion in Spain and overseas.

In the solar energy field, the company has 14 power plants of 50 MW, each under permitting. To develop its presence in solar energy, Ibereolica undertook an extensive search for appropriate technologies, culminating in the identification of CHP's Solar Water Cracker system.

In Mexico, where Ibereolica has a 100 MW wind energy project under permitting, the reduced installation cost of CHP's technology will enable the company to enter the solar energy arena, and solicit and build numerous solar projects.

Over the next five years, Ibereolica plans to rollout multiple large-scale solar energy generation plants, taking advantage of the ideal conditions in Spain and Mexico for such projects.