SPI Solar ("SPI”) (OTCBB:SOPW) a leading vertically integrated photovoltaic ("PV”) solar developer, today announced that it has entered into an engineering, procurement and construction ("EPC”) agreement with a subsidiary of KDC Solar ("KDC Solar”) to design and build multiple solar energy facilities ("SEF”) for KDC Solar at the Mountain Creek Resort and Grand Cascades Golf Resort in Vernon, New Jersey. KDC Solar will own and operate the SEFs. The SEFs being developed at the resorts will include a mixture of fixed ground mount and custom designed solar parking canopies and car ports located at three separate sites at the resort. The three SEFs will provide more than 8,000,000 kW hours of solar electricity generation per year to help power the resort’s operations. The project is yet another large-scale solar installation for SPI as a result of its preferred provider agreement with KDC Solar.
"This will be our first installation at a major year-round resort,” said Stephen Kircher, CEO for SPI Solar. "We are extremely pleased that it will be Mountain Creek and Crystal Springs and that our finished work will be seen by the thousands of visitors the resorts draw from the tri-state area. We look forward to getting started.”
"We are very happy to have the opportunity to provide the Mountain Creek and Crystal Springs Resorts with clean, low cost, long-term solar energy,” said Hal Kamine, KDC Solar's CEO. "These installations are an example of the resort’s commitment to the environment, and a complement to KDC Solar’s commitment to "behind-the-meter” solar electric systems for businesses and jobs in New Jersey."
Located in Vernon, NJ, Mountain Creek is the tri-state area’s premier destination for mountain recreation. Only 47 miles from the George Washington Bridge, Mountain Creek is easily accessed by residents of New York, New Jersey and eastern Pennsylvania seeking a world-class resort with year-around recreation activities. Among other activities including golf, mountain biking and water park attractions, the Mountain Creek resort offers over 167 acres of terrain on 4 mountain peaks with 100% night skiing and the region’s highest vertical peak at 1040'.
The project is scheduled for completion by the end of this year.
About SPI Solar (OTCBB:SOPW):
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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