ROSEVILLE, Calif.--(BUSINESS WIRE)--
Solar
Power, Inc. ("SPI") (OTCBB:
SOPW) announced today that it has executed a supply agreement with
Bayer and Raach, a German solar installation company serving the
residential and commercial market segments throughout Germany and
Southern Europe. The two-megawatt agreement calls for SPI to provide one
megawatt of SPI's 200-watt modules and one megawatt of modules with
SPI's proprietary SkyMountTM commercial mounting system.
SkyMountTM is designed for minimal or non-penetrating
commercial rooftop applications.
"We look forward to providing the Bayer and Raach team with our
products. They have built a superb reputation on the quality of their
installations throughout their market area. We are very pleased to have
our products become an integral part of the systems they are building,"
said Bradley Ferrell, President of SPI's Commercial Sales Division.
"This supply agreement further extends our penetration into the European
market and adds incremental reach into the German market, which is
currently one of the most significant markets for solar anywhere," Mr.
Ferrell concluded.
SPI continues to make significant strides in 2009 advancing its
international sales strategy through sales of its modules and
proprietary commercial systems, SkyMount and Peaq solar canopies. As a
firm engaged in the practice of renewable energy consulting, as well as
planning and installation of photovoltaic systems, Bayer and Raach is
ideally positioned to sell SPI's products throughout the company's
European market area. Bayer and Raach serves Germany, Italy, and
recently expanded into the Czech Republic and Slovenia.
About Solar Power, Inc.:
Founded in 2005, Solar
Power, Inc. is a vertically integrated solar energy solution
provider offering the North American commercial and public sector
building markets a complete solution through a single brand. The
company's Yes!
Solar SolutionsTM
subsidiary provides the U.S. small- to mid-sized business and
residential market segments with turnkey PV solar systems through a
growing retail franchise network. Throughout Europe and Asia, the
company sells its products direct to distributors and turnkey solutions
providers. Solar Power, Inc. operates from its Roseville, California
headquarters.
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.
Source: Solar Power, Inc.