Solar Power supplies Solarmarkt Sued Park with solar modules for German project

23rd September 2009

US solar energy provider Solar Power has struck a sales order agreement to supply German solar project developer Solarmarkt Sued Park with up to 25MW of solar modules for a new solar development.

The agreement also includes up to 50MW of Sola Power’s SkyMount commercial rooftop racking systems. Under the agreement several megawatts of Solar Power’s solar modules and SkyMount racking are to be delivered during the remainder of this year. The sales order agreement is set to extend through 2010 with product orders commencing immediately.

‘The performance of SPI’s solar modules is world-class. We share a common commitment to quality and place high value on their solutions-based approach to commercial systems,’ said Frank Weckerle, president of Solarmarkt Sued Park. ‘We look forward to working with SPI as we execute both our current book of business and our developing project portfolio.’

Solar Power said it will immediately begin processing orders to meet its contract requirements.

‘The German solar market is very important to us. Our agreement with Solarmarkt Sued Park represents significant progress as we continue to pursue our international product sales strategy,’ added Bradley Ferrell, president of Solar Power’s commercial sales division. ‘As a large-scale project developer with an excellent reputation and strong demand for their services, we are very pleased to have our products play a significant role in the solar systems they are installing across Germany.’

In other company news, Solar Power has entered into agreements with institutional and accredited investors with respect to a private placement with gross proceeds of $12m. Solar Power will use the proceeds for general corporate purposes, including working capital the CEO Stephen Kircher said.

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