Apr 29 2010
Premier Power Renewable Energy, Inc. (OTCBB:PPRW), a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S., Spain and Italy, today announced an agreement to develop 19 megawatts (Mws) of photovoltaic (PV) projects in one of the hottest solar markets in the world.
Premier Power has entered into a joint venture (JV) with Czech Republic based Plaan Czech s.r.o. to develop 19 Mws of solar PV projects throughout the Czech Republic. The first 3 Mws, which include the Jarsov (2 Mws) and Verovice (1 Mws) projects, will begin construction immediately. The projects are being completed for local investors. The company expects the initial 3 Mws to be completed by July 2010. Premier Power and Plaan Czech will act as co-developer and engineering, procurement and constructions (EPC) partners on all projects under the agreement.
Dean R. Marks, chief executive officer of Premier Power said: “With among the most generous feed-in tariffs in the world, the Czech Republic is quickly becoming one of the hottest solar markets in the world today. We believe we are perfectly positioned to capitalize on its growth as a result of Premier Power’s proven capabilities on the European continent, and our joint development agreement with Plaan Czech. Our expansion into the Czech Republic fits with our strategy to establish a strong presence in those European markets where their governments have recognized and are promoting alternative energy, and in particular solar power.”
Bjorn Persson, executive vice president, Europe for Premier Power said: “Premier Power’s expertise in the design, engineering and construction of commercial and utility-scale solar systems, coupled with Plaan Czech’s local knowledge, engineering experience and portfolio of permitted projects in the Czech Republic, positions Premier Power to capitalize on these opportunities and become a leader in another fast-growing market.”
Petr Marek, president of Plaan Czech said: “Plaan Czech is committed to the development of solar projects throughout the Czech Republic through the utilization of best practices. Plaan Czech and Premier Power, working collectively, will be able to offer industry leading engineering, installation and asset management to our collective customers. Plaan Czech is thrilled to be working with Premier Power and is looking forward to developing a robust portfolio together.”
“The Czech Republic’s feed-in tariff is currently 0.48 Eur/kWh making it a higher feed-in tariff than in most other European markets and the contracts with the Utilities are for 20 years,” explained Alexis Issaharoff, Vice President, Business Development, and Premier Power. “While their feed-in tariff for 2011 is expected to decrease approximately five percent, the Czech Republic will continue to be one of the most promising markets in the world for 2011.”
Source: http://www.premierpower.com/