SPI Solar Greece Expands Renewable Energy Initiatives
SPI Solar Signs MOU with the Taneo Fund to Build 23 Megawatts across Greece
SPI to serve as exclusive EPC contractor for a pipeline of projects of up to 100 megawatts
Roseville, Calif. — April 19, 2012— SPI Solar (“SPI”) (OTCBB: SOPW) a leading vertically integrated photovoltaic (“PV”) solar developer, today announced that the Company recently entered into a Memorandum of Understanding (“MOU”) with two fund management companies in Greece for the sole purpose of developing utility-scale solar energy facilities (“SEF”) across Greece. Thermi-Taneo Venture Capital Fund (“Thermi”) and AIMS-Taneo Fund (“AIMS”) are part of the New Economic Development Fund known as the Taneo Fund. The Taneo Fund is a Greek-state sponsored, privately funded and independently managed fund-of-funds which makes venture-capital investments in Greece and Europe. The agreement establishes a minimum commitment for Taneo to provide 23 megawatts of SEF projects for SPI to design and build, and sets as a goal for Taneo and SPI to potentially develop a total of 100 megawatts in SEF projects across Greece.
