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Solar Power, Inc. (SOPW.OB) Contracted to Build/Service Major New US Solar Plant, a 5 Megawatt Rooftop Installation in New Jersey

|Includes: SPI Energy Co., Ltd. (SPI)

Solar Power, Inc., – the aptly named developer of world-class solar modules, balance-of-system products and lifecycle-implemented total solar solutions, announced entry into a construction contract today to create a 5 MW (megawatt) rooftop system for the KTR Capital Partners-owned, White Rose, Inc. distribution warehouse located in Carteret, New Jersey.

NuGen Capital Management, LLC and KDC Solar LLC, formed a joint venture which will own and operate the system, and selected SOPW as the EPC (engineering, procurement and construction) contractor, also tagging the Company for servicing/monitoring of the system.

Because SOPW solar solutions come from a vertically integrated production pipeline and the Company is widely-known for being able to manage a solution throughout its lifecycle, from materials, to manufacturing and post-installation care, the selection was a natural one.

Chairman and CEO of SOPW, Steve Kircher, noted utilization of the Company’s own solar modules and revolutionary SkyMount® racking system in the project, which features extremely robust materials for maximum resilience, easy snap-in design and performance-optimizing mounting capabilities.

Kircher stressed the significance of this project, both for SOPW and America, as the White Rose installation would be one of the largest systems of its type in the nation.

A targeted date of January 2011 has been schedule for commencement of the project and current estimates indicate that it should be complete sometime early in the second half of 2011.

Kircher also indicated that this project affords SOPW greater momentum in the Northeastern markets, where the Company’s unique portfolio of core competencies can be showcased via what is ultimately an ideal model, where the products, system design and construction will all boldly advertise SOPW’s ability to put MWs of solar power into production.

CEO of NuGen, David Milner, underscored the utility of SOPW’s “highly adaptable SkyMount racking system” for a project of this “scope and scale”, emphasized the importance of research and due diligence on behalf of all parties involved and expressed pleasure at the deal with SOPW, tipping his hat regarding future deals in the Northeast.

The White Rose Food building in Carteret, New Jersey serves as corporate offices and a major distribution hub. White Rose services over 1,800 stores ranging from supermarket chains, to retailers and co-ops with over 18k products (food- and non-food), has a huge footprint from Maryland to Connecticut and is the largest independent wholesale food distributor in NYC and New Jersey.

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