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SPI Solar Awarded a 1.69 Megawatt Solar Energy Facility Project in New Jersey

^{Published on 2011-06-20 03:40:32 - Market Wire}
 

ROSEVILLE, Calif.--([ BUSINESS WIRE ])--[ SPI Solar ] (aSPIa) ([ OTCBB:SOPW ]) a leading developer of photovoltaic (aPVa) solar energy facilities (aSEFa), today announced that it has entered into an engineering, procurement and construction (aEPCa) contract to serve as EPC contractor for a 1.69MW DC photovoltaic solar project in New Jersey. The system will be a roof-mounted distributed generation system for on-site power consumption. The project will be owned and operated by NuGen Capital Management, LLC (aNuGena), through a NuGen wholly owned subsidiary.

"We are very happy to have been selected once again by NuGen for this project"

The SEF being built by SPI will be connected to 5 independent meters serving tenants at the complex owned by North Jersey Development Group, Inc. Most recently, SPI worked with NuGen on the 5-megawatt White Rose Foods project currently under construction in New Jersey. aWe are very happy to have been selected once again by NuGen for this project,a said Steve Kircher, CEO of SPI. aThe project fits nicely within our strategy to further establish our presence in the northeastern US.a

NuGen works with large-scale energy users and real estate owners to develop, own, and operate commercial-scale PV solar systems. aI am pleased to be working with SPI once again on this project, and look forward to others in the future as NuGen seeks to invest capital in additional opportunities throughout the Northeast,a said David Milner, CEO for NuGen. aSPIa™s experience base and track record in the solar industry make a big difference when it comes to selecting a partner for projects such as these,a Mr. Milner concluded. The 1.69 MW project was co-developed by NuGen and Solaire Development, LLC (aSolairea) through a joint development agreement between the two companies. NuGen and Solaire are currently in the process of collaborating on additional projects.

Construction on the project is scheduled to begin in July 2011.

About Solar Power, Inc. ([ OTCBB:SOPW ]):

Solar Power, Inc. (SPI) is a vertically integrated photovoltaic solar developer offering its own brand of high-quality, low-cost distributed generation and utility-scale solar energy facility development services. Through the Companya™s close relationship with [ LDK Solar ], SPI extends the reach of its vertical integration from silicon to system. From project development, to project financing and to post-construction asset management, SPI delivers turnkey world-class photovoltaic solar energy facilities to its business, government and utility customers. For additional information visit: [ www.spisolar.com ].

About NuGen Capital Management, LLC:

NuGen Capital Management was founded in 2009 to invest in commercial scale solar systems. NuGen develops its own projects as well as partners with other developers in its pursuit to own and operate solar systems. Working with large scale energy users and real estate owners, NuGen serves the long term energy and economic needs of its partners and clients. Based in Rhode Island, NuGen works in States where the renewable energy policies encourage job creation and energy sustainability through solar development.

Safe Harbor Statement:

This release contains certain aforward-looking statementsa 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 abelieves, expectsa or similar expressions. The forward looking statements contained in this press release include statements regarding the Companya™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.