Berkley Resources Inc., an energy and venture company, has established a strategic partnership with Day4 Energy Inc., a Vancouver-based manufacturer of solar panels.
Under the agreement, Day4 is providing Berkley with solar panels and related equipment, as well as consulting services, for the construction and maintenance of solar power projects in Italy and Greece. Berkley will provide financing, receive ongoing revenue from the projects and act as a sales agent for Day4's solar panels.
Traditionally an oil and gas developer and producer, Berkley says it is diversifying into renewable energy, with an initial focus on developing solar power projects in Italy and Greece. Working in partnership with Day4 and local contractors, Berkley expects to develop a minimum of 30 MW of solar farms by the end of 2012. Berkley is also marketing Day4 panels in Greece through a sales representation agreement.
Berkley expects to begin construction of its initial solar project in May.
SOURCE: Berkley Resources Inc.