California, United States [RenewableEnergyWorld.com] Solar Energy Initiatives Inc. announced that its wholly owned subsidiary, Solar Park Initiatives, has signed a contract securing land for the design, construction and operation of a solar park in California.
Solar Park Initiatives will be responsible for providing engineering, permitting, construction, operations and maintenance as well as obtaining the financing of the solar park. Solar Energy Initiatives will procure the solar panels and balance of system for the project.
Solar Park Initiatives will begin preliminary work, including zoning, permitting and EPA approvals immediately with construction estimated to begin in late 2010. The contract possesses a 25 year life with additional renewal options. The 100-megawatt project will be constructed in various increments over a three year time frame.
“This endeavor represents strong validation that Solar Energy Initiatives and Solar Park Initiatives’ synergistic relationship is extremely capable of securing large scale contracts and expanding market presence,” said David Fann, CEO of Solar Energy Initiatives. “We believe that as Solar Energy Initiatives and Solar Park Initiatives continue to grow as market leaders and establish credibility with municipalities and landowners that both companies will secure additional contracts, increase our earnings and achieve our primary goal of improved shareholder value.”