Third Major Project from SPI Alliance with KDC Solar Results in 7 MW Solar Facility in New Jersey
Another SPI Solar project to announce! For SPI Solar (OTCBB: SOPW) has a 6.8 MW ground mounted solar facility to be constructed in Middlesex County New Jersey. SPI Solar (“SPI”) will provide project construction management services. That’s all in addition to project financing. All in accordance with the terms of the Preferred Provider Agreement. That’s between KDC and SPI announced in June 2011.
26,000 Panels
The solar facility will also be constructed with approximately 26,000 high-efficiency solar panels. All supplied by SPI and also was manufactured by LDK Solar Ltd. When completed, the solar energy project will most notably generate approximately 8,450,000 kilowatt hours of solar electricity per year. For it will be supplying 100% of the electric power for its needs for the facilities that are located on the site. The project also marks the third engagement resulting from SPI’s Preferred Provider Agreement. That’s with KDC Solar in as many months.
Once operational, savings from the project for Middlesex County will more excitingly escalate from $725 thousand to $1.15 million annually over the 15-year term of the power purchase agreement.
Now subject to obtaining the necessary permits, construction is scheduled to begin early next year. Essentially with the objective that the project should be fully operational in the third quarter of 2012.
6.8 MW Ground Mounted
SPI also has been engaged by a subsidiary of KDC Solar LLC (“KDC Solar”). All for a 6.8 MW ground mounted solar facility to be constructed in Middlesex County New Jersey. SPI Solar (“SPI”) will provide construction management services and project financing. All in accordance with the terms of the Preferred Provider Agreement between KDC and SPI. For they announced in June 2011. The solar facility will be constructed with approximately 26,000 high-efficiency solar panels supplied by SPI and manufactured by LDK Solar Ltd. When completed, the solar energy project will generate approximately 8,450,000 kilowatt hours of solar electricity per year and supply 100% of the electric power needs for the facilities located on the site.
Finally, this project marks the third engagement. Most notably and all resulting from SPI’s Preferred Provider Agreement with KDC Solar in as many months.
Source: SPI Solar (“SPI”) (OTCBB: SOPW)
