Science & Technology
Science and Technology
Science and Technology
Thu, May 20, 2010 Solar Power, Inc. and Pacific Edison Develop 397 Kilowatt Solar Project for Major San Francisco Bay Area Recycling Center
ROSEVILLE, CA and SANTA MONICA, CA--(Marketwire - May 20, 2010) - [ Solar Power, Inc. ("SPI") ] (
Solar Power, Inc. will design and construct the solar system, which will include a mix of rooftop racking and parking shade structures on which the 1,776 solar modules will be mounted. Once completed, the solar system will produce more than 576,000 kWh of electricity, and deliver more than $128,000 in savings during its first year of operation. The system will reduce the electrical utility costs of operating the FRTS by more than $4.24 million over 25 years. In addition to cost savings, during its first year of production the FRTS solar plant will produce environmental offsets equivalent to preserving 3.1 acres of forest and 447 metric tons of avoided carbon emissions.
"We are very pleased to be adding this solar system to our Fremont operation," said Shawn Guttersen, Vice President of BLT Enterprises. "It is a complement to our core values and mission to provide the means for environmentally responsible recycling and disposal of waste materials produced by communities across California," Guttersen concluded.
"We were successful in helping the BLT Enterprises team navigate through the solar project development process and identify an innovative and cost-effective solution that is right for BLT's unique needs," said Dion Camp-Sanders, CEO of Pacific Edison. "Not only will BLT Enterprises save millions of dollars on energy costs over the next 25 years, but the company will also be able to deliver its leading-edge recycling and waste management solutions with a significantly reduced carbon footprint."
"We are very happy to be chosen to work with BLT Enterprises to design and develop a PV solar plant that will help power its FRTS operations," said Stephen Kircher, Chairman and CEO for Solar Power, Inc. "Our system will provide an excellent environmental complement to BLT Enterprises' strength as a green business."
BLT Enterprises is a privately owned, Southern California-based company that has specialized for over 20 years in the development and operation of Material Recycling Facilities and transfer stations, as well as the processing and marketing of recyclable materials. Led by the company's principals, Bernard Huberman and Daniel Rosenthal, and Vice-President, Shawn Guttersen, BLT has been engaged in the solid waste industry for more than 25 years. The company operates several facilities like the Fremont Recycling and Transfer Station throughout California.
About Pacific Edison, LLC:
Pacific Edison, LLC (PacEd) is the premier renewable energy project development and consulting firm serving sports and entertainment venues throughout North America. PacEd also delivers green energy solutions to school districts, hospitals, non-profits, and commercial property owners. PacEd enables clients to adopt onsite renewable energy and energy efficiency solutions with no upfront capital or operating risk. PacEd's range of project development and consulting services include conducting feasibility studies, arranging project financing, determining the most suitable renewable energy and energy efficiency solutions for each client's particular facilities, and negotiating contracts on behalf of clients with key counterparties, such as financiers, installers, and technology vendors. For more information, please visit us online at [ www.pacificedison.com ].
About Solar Power, Inc.:
Founded in 2005, [ Solar Power, Inc. ] is a vertically integrated solar developer; the Company manages its value chain from material sourcing, to manufacturing, through post-installation asset management of its systems, and manufactures its own line of world-class solar modules and balance-of-system products. The Company designs, manufactures and delivers world-class photovoltaic solar systems to its residential, business, government and utility customers. For additional information, including a copy of our most recent investor presentation, please visit us at: [ www.solarpowerinc.net ].
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.
