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  • Solar Power, Inc. (SOPW) Completes Acquisition of Necessary Contracts/Permits to Serve As Developer of 4.4-Megawatt Fixed-Ground-Mount Solar Energy Facility 0 comments
    Aug 16, 2011 10:04 AM | about stocks: SOPW

    Solar Power, Inc. (SPI) announced that they successfully completed the acquisition of the necessary contracts and permits to serve as developer of a 4.4-megawatt fixed-ground-mount solar energy facility (NYSEARCA:SEF). This facility will be located in Evros, in North Eastern Greece, approximately 100 miles north of Alexandropoulos and six miles from the Turkish border. The Company became the developer of record for the project by acquiring a 100 percent limited partnership interest in the project. The project was already in early-phase planning with another entity. The SEF will be a fixed-tilt ground-mount utility-scale facility, on roughly 25 acres, selling power to the Greek Public Power Corporation (NASDAQ:PPC) through a 20-year Power Purchase Agreement (NYSEARCA:PPA).

    Before executing the agreements, SPI worked with Global Energy Services (NYSE:GES) to identify the build-ready project. They also worked with SDL Solar to perform on-site technical due diligence and qualify the project for development. In addition, GES will work closely with SPI to provide project oversight during the construction of the SEF. Furthermore, SPI’s intention is to perform operations and maintenance of the completed facility over the term of the PPA. SPI’s proprietary monitoring application, Solar PowerView™ will be used to monitor the system and ensure optimal system performance and energy production. The SEF will use LDK’s high-performance solar modules. Construction is scheduled to start November 2011. SPI’s intention is to sell the project during the construction phase or upon commissioning.

    Mr. Stephen Kircher, Chief Executive Officer of SPI, said, “This is our first project in Greece and we are excited about initiating what we believe will be the first of several projects there. The system design-build requirements for this project are a perfect match to our skill set and experience. We will also be creating jobs over the course of this project’s development, which is a plus for the Greek economy. We look forward to the successful execution of this project and to more projects in Greece and selectively throughout Europe.”

    Headquartered in Roseville, California, Solar Power, Inc. is a leading vertically integrated photovoltaic (PV) solar developer and engineering, procurement, and construction (NYSE:EPC) services provider. The Company offers their own brand of high quality, low-cost distributed generation and utility-scale solar energy facility development services. Via their close relationship with LDK Solar, SPI extends the reach of their vertical integration from silicon to system. SPI delivers turnkey world-class photovoltaic solar energy facilities to their business, government, and utility customers. This includes project development, to project financing, and to post-construction asset management.

    For more information visit: spisolar.com

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

    Stocks: SOPW
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