GiraSolar Delivers on $10.3 Million Contract

GiraSolar, Inc. has announced that it has made the first of several deliveries on a $10.3 million supply contract to a solar project developer in Spain. Prepayments have been received in full and the first significant deliveries to Alternativa Energetica, a solar photovoltaic (PV) project developer in Spain, have been made.

Project installation is expected to progress during the coming months. Follow-up deliveries on the same contract are planned until the end of the first half of 2008.

“We believe that the entry into and execution of new supply contracts proves that the GiraSolar group is able to maintain a strong position and establish a national presence in Spain through its sales support branch that was established last year, intensive networking and strategic partners in the market, despite increased and intense competition on the Spanish market since the Company’s entry in 2006,” said James Miller, CEO of GiraSolar, Inc.

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