Solar Energy Initiatives Inc. has signed a contract securing land for the design, construction and operation of a solar park in Southern California. The project could generate over $80 million in revenue within a five-year time period.
Construction of up to an 18 MW system represents Solar Energy Initiatives' first contract in the rapidly expanding solar park market, the company notes. Preliminary work, including zoning, permitting and other activities, is expected to begin immediately.
JJR Power LLC, a project partner, has assembled a syndicate of financing sources for funding the installation and permanent capital requirements for this project. SNRY is expected to provide in excess of $100 million of additional financing opportunities to JJR.
SOURCE: Solar Energy Initiatives Inc.