Solar Energy Initiatives secures agreement to market solar solutions to over 100,000 municipalities

18 November 2009

Solar Energy Initiatives has entered into a financing and joint marketing agreement with a municipal financial services company in western US as part of its grass roots campaign called Renew the Nation, to help redeploy a portion of the US work force and sell solar thermal and photovoltaic technologies.

The agreement states that the financial services institution will exclusively market Solar Energy Initiatives solar solutions to over 100,000 municipalities. The financial institution will also have the ability to provide project based financing for any contract that it brings to Solar Energy Initiatives, which receives revenues from the sale of the solar equipment and from the energy sold to the municipality, over a 20-25 year contract period.

David Fann, CEO of Solar Energy Initiatives, said, ‘Being granted exclusive access to a vast amount of potential new projects represents a significant opportunity to our already strong project pipeline. Management is confident that our low cost, high return solar energy solutions coupled with the potential 100,000 additional projects will result in a significant increase of new contract awards in 2010.’

Greg Bakeman, president and CFO, added, ‘The potential to secure such a vast amount of new and profitable municipal contracts is a momentous opportunity for the company. Solar Energy Initiatives believes that its proven ability to secure similar contracts in the past will allow us to capitalise on this potentially paradigm shifting venture.’

The main focus will be working with companies in the construction industry and related trades affected by the economic downturn to retrain and redeploy their workforce into solar dealers. Solar Energy Initiatives’ approach will involve the development of a dealer network in the US that sells and installs solar solutions and develops solar parks.

The company’s dealer network of solar energy installers has access to NASDAQ-listed Canadian Solar and NYSE-listed BP Solar, GE Solar and Suntech equipment via its distribution agreements.

Copyright © 2009 NewNet

Tags: solar

This story was published on Wednesday, November 18th, 2009 at 6:10 pm and is filed under North America, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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