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  • SPI Solar, Inc. (SOPW) Begins 8-Megawatt Development in California 0 comments
    Jul 13, 2011 10:12 AM | about stocks: SOPW
    Yesterday, SPI Solar, Inc. announced that it had entered into a contract to construct an 8-megawatt DC utility scale development near Palm Springs, CA. SPI has also signed a power purchase agreement with Southern California Edison, under which SCE will be the exclusive buyer of any electricity produced by the SPI system. This purchase agreement will extend for a twenty year period.

    SPI is a photovoltaic solar power developer that offers distributed generation and development of utility-scale solar energy facility development. SPI has a relationship with LDK Solar to improve its vertical integration abilities. SPI’s solar energy facilities provide power to business, government and utility customers.

    The approximately 33,800 solar modules utilized in the Palm Springs facilities have been manufactured by LDK to cover a total of 36.5 acres spread out across two parcels. The panels will be able to track the progress of the sun thanks to a single-axis tracking system that will allow for maximum energy absorption efficiency during the course of the day. This will also maximize the amount of electricity production. SPI also boasts environmentally friendly installation and construction.

    Steve Kircher, CEO for SPI said, “We are very pleased to have this project under way. SCE is a great partner to work with and this is both our largest utility-scale project, and our largest project with SCE to date. We are pursuing utility-scale projects, as well as a growing number of distributed generation projects across the US,”

    Kircher continued, “This week we are attending the Intersolar North America conference in San Francisco where we will be meeting with several prospects interested in developing strategic partnerships with us like the one we recently announced with KDC Solar. We are excited about our pipeline development and the opportunities it represents for our company.”

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net
     
    Stocks: SOPW
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