SPI to Power 10 Schools in Santa Rosa City

Solar Power, Inc. (SPI), and its joint venture partner Solar Power Integrators, have received approval from the Santa Rosa City School District Board of Directors to install photovoltaic solar electric systems at 10 of the district’s schools, a project worth approximately $23 million.

SPI will design and install the systems. Solar Power Integrators will act as the project construction manager. Individual systems within the district will range from 20 kilowatts (kW) to 687 kW. Preliminary work on the project is to begin immediately with a targeted completion date of October 2008.

“This is our first contract with the state education system and we view this as a large market opportunity going forward. Additionally, the size of this project gives us enhanced visibility into revenues for the next year, as such, we are issuing guidance for our 2008 fiscal year of at least $60 million in expected revenue and reiterating our guidance for profitability for the 2008 fiscal year,” said Steve Kircher, CEO of SPI.
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