Solar Power Inc. Receives Financing For Manufacturing, Project Development

Solar Power Inc. (SPI), a vertically integrated developer, has received an initial commitment of $24.7 million in Recovery Zone Facility Bonds (RZFBs) by Sacramento County and is exploring plans to open a manufacturing facility within Sacramento County to build its high-performance solar panels.

The RZFBs committed to SPI are tied directly to the American Recovery and Reinvestment Act of 2009.

In addition, the company plans to begin development of a utility-scale photovoltaic solar system in Sacramento County. The system, which will be designed, engineered and constructed by SPI, will exceed 10 MW in electricity production capacity and have an estimated value of $50 million upon completion.

SOURCE: Solar Power Inc.

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