Science & Technology
Science and Technology
Science and Technology
Tue, February 24, 2009
Solar Energy Initiatives, Inc. and Solar Energy Alternatives, LLC Enter Long-Term Solar Projects Agreement
PONTE VEDRA BEACH, Fla. & WESTLAKE VILLAGE, Calif.--([ BUSINESS WIRE ])--Solar Energy Initiatives, Inc. ("SNRY") (OTCBB:SNRY), and Solar Energy Alternatives, LLC ("SEA") have agreed to enter into a marketing, contract, finance, installation and operating agreement for commercial and residential solar photovoltaic installations in the Unites States and certain foreign markets.
Under the terms of the Agreement SEA will handle marketing, power purchase contracts, and project financing. SNRY will provide feasibility and due diligence analysis, supply the solar panels and ancillary equipment, contract site engineering and installation of equipment, and operate and maintain the installation. This Agreement brings over $7.2 Million in Letters of Intent adding to a SNRY project pipeline that now exceeds $60 Million.
Commenting on the announcement, Greg Bakeman, President of SNRY said, "Paul and Terrell bring projects and financing contacts that complement our core competencies of configuring, supplying and installing photovoltaic systems that effectively manage the cost of electricity for commercial clients. This Agreement has far reaching opportunities for both companies and their associates."
About Solar Energy Initiatives, Inc.
Solar Energy Initiatives, Inc. ([ www.SolarEnergy.com ]) is executing its "RENEW THE NATION" campaign, intended to promote job growth nationwide via an aggressive grass roots effort. The main focus of RENEW THE NATION will be working with companies in the construction industry and related trades affected by the economic downturn to re-train and re-deploy their workforce, allowing this important national asset to meet the needs of the Solar Energy industry, the fastest growing industry in the world. We are executing on a three pronged approach to achieve our plan. This includes: continuing development of one of the fastest growing dealer networks in the U.S. that sells and installs solar solutions to homeowners and commercial customers; placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s); and becoming a developer of solar parks bringing together landowners, utilities and our corporate resources to build large photovoltaic installations.
Based on the strategic alliance, the Company's dealer network has access to equipment distribution agreements in place with BP Solar (NYSE: BP) and GE Solar (NYSE: GE). This allows Solar Energy Initiatives to be competitive from a pricing standpoint with larger solar companies. While Solar Energy does not compete directly with industry giants such as First Solar (NASDAQ:[ FSLR ]), Kyocera (NYSE:[ KYO ]), Sanyo (OTC:[ SANYY ]) or Suntech (NYSE:[ STP ]), it provides exciting and practical solutions to businesses and individuals worldwide that understand the value of solar power.
About Solar Energy Alternatives, LLC
Solar Energy Alternatives ([ www.solenergyalternatives.com ]) markets, contracts and finances photovoltaic solar panel installation projects for commercial and residential customers. Solar Energy Alternatives, LLC is a San Fernando Valley, CA based in Westlake Village, CA. The Company is dedicated to the development and marketing of photovoltaic systems ("PV"), which is the process of generating electricity from the sun using installed solar panels. The Company's management team has more than 19-years experience in business development, marketing, solar installation, and the development of solar alternative systems for home and commercial business. The Chairman & Executive Vice President Paul Shumard has 10-years experience in solar energy home and commercial systems. He is the former founder of the Southern California based firm, Consolidated Energy Systems Incorporated. His company installed a 300 watt system for the City of Oceanside Public Library in Southern California, and signed a $5 million dollar contract to install solar energy systems for Besicorp.
