SPI Solar (“SPI”) ( SOPW:OTCBB), a leading vertically integrated photovoltaic (“PV”) solar developer, announced today that it has completed construction and successfully interconnected two large-scale solar energy facility (“SEF”) projects in Greece. A 2-megawatt development in Evros and a 4.4-megawatt SEF in Orestiada were completed and interconnected by July 26 th. Both systems are providing power to the Greek Public Power Corporation through 20-year Power Purchase Agreements. A one-megawatt SEF remains under construction in Rhodopi and is scheduled for completion by mid-September.
“These are the first two large-scale SEFs we have completed in Greece, and they mark significant milestones for SPI,” said Stephen Kircher, CEO of SPI. “As Greece continues to diversify its energy sources, we will continue to pursue additional projects across the country,” Mr. Kircher concluded.
SPI has entered into a Memorandum of Understanding (“MOU”) with the Taneo Fund to develop 23 megawatts of utility-scale SEFs across Greece; all of which are fully permitted and ready for construction. The MOU sets a goal for Taneo and SPI to potentially develop a total of 100 megawatts across Greece.
About SPI Solar ( SOPW:OTCBB ):SPI Solar (“SPI”) (Solar Power, Inc.) is a vertically integrated photovoltaic solar developer offering its own brand of high-quality, low-cost distributed generation and utility-scale solar energy facility development services. Through the Company’s close relationship with LDK Solar, SPI extends the reach of its vertical integration from silicon to system. From project development, to project financing and to post-construction asset management, SPI delivers turnkey world-class photovoltaic solar energy facilities to its business, government and utility customers. For additional information visit: www.spisolar.com. Safe Harbor Statement: This release contains certain “forward-looking statements” relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as “believes, expects” or similar expressions. The forward looking statements contained in this press release include statements regarding the Company’s ability to execute its growth plan and meet revenue and sales estimates, enter into formal long-term supply agreements, and market acceptance of products and services. These statements involve known and unknown risks and uncertainties, including, but are not limited to, general business conditions, managing growth, and political and other business risk. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
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