In the company’s news yesterday,
Solar Energy Initiatives, Inc. announced that it has entered a supply contract with Suntech America whereby Suntech will serve as the sole supplier of solar electric generation equipment for a 1+ MW installation.
“We are extremely pleased to have chosen Suntech America to be the provider of solar panels for our first municipal contract,” stated, Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. “This agreement validates Solar Energy Initiative’s position within the rapidly growing solar energy market and our ability to attract the top panel providers in the world. We believe that President Obama’s recent promise to earmark $467 million in stimulus funds exclusively for solar energy development coupled with our recent influx of contracts and newly formed relationships leave us well positioned to increase our market share in the solar energy industry.”
“Suntech is pleased to be teaming with Solar Energy Initiatives to provide 1+ MW of solar equipment,” commented Roger Efird, president of North American Sales at Suntech America. “The Company’s rapidly expanding dealer network and strategic business model present what we believe to be a mutually beneficial relationship to be able to deploy solar power to individuals, commercial real estate and municipalities located throughout the United States and the Caribbean. Suntech looks forward to developing future projects with Solar Energy Initiatives and its dealer network.”
Mr. Fann added, “Suntech’s reputation and expertise will present a significant asset during this first multi-million dollar commercial project. Solar Energy is executing on its strategic business plan of converting contractors, plumbers and electricians into solar dealers, and we are pleased with our rapid growth in the first half of 2009. We look forward to successfully completing this project and establishing ourselves as a quality provider of solar energy solutions to municipalities located in the Northern Hemisphere.”
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