Solar Power, Inc. Enters Into 2-Megawatt Product Supply Agreement with German Installer of Residential and Commercial Solar Systems
Roseville, CA, 16 June 2009
Source: Solar Power Inc press release /BusinessWire
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.