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Solar Power, Inc. (“SPI”) (OTCBB:SOPW) has entered into an agreement with Solar Power Partners, Inc. a California-based renewable energy company specializing in Power Purchase Agreements (“PPAs”) as a vehicle for financing commercial installations of large-scale photovoltaic (“PV”) solar electric energy systems. “Our agreement with Solar Power Partners, Inc. and the systems we will be designing and installing for their customer are significant for a number of reasons,” said Steve Kircher, CEO of SPI. “Solar Power Partners’ customer is a major national retailer that has successfully tested and is now converting its retail facilities to photovoltaic solar electricity. It demonstrates the growing adoption of PV solar systems by businesses as a means to contain operating expenses in the face of rising energy costs.” SPI will install multiple large-scale systems averaging 200 kW per site over the next 6 months at the customer’s retail stores across California. “Each of these systems will be designed to perform optimally for the facilities structure,” Kircher pointed out. “Our design teams specialize in maximizing a system’s production capabilities based on site, system design and installation techniques. It’s a critical part of the system design process and a key point of differentiation for Solar Power, Inc.” Solar Power, Inc. and Solar Power Partners have worked jointly on several projects to date. Solar Power Partners specializes in PPAs, which are financial vehicles intended to relieve building and property owners from up front capital costs and ongoing maintenance costs of solar power. “By building centrally managed solar energy facilities customized to a building owners' specific needs, SPP makes it easy for commercial properties to acquire clean renewable energy at more predictable and stable rates than those typically offered by the public utilities,” said Alex V. Welczeck, President and CEO of Solar Power Partners, Inc. “We have been working with Solar Power, Inc. for some time now on a number of successful commercial solar system installations. This is an important series of projects for a high-profile customer and we look forward to working with Solar Power, Inc. on these projects as well as more to come.” About Solar Power, Inc.: Founded in 2005, Solar Power, Inc. is a vertically integrated solar energy solution provider offering the North American residential, commercial and public sector building markets a complete solution through a single brand. With a state of the art manufacturing facility in Shenzhen, China, Solar Power, Inc. provides turnkey design-build solutions through its Roseville, California headquarters and a growing retail distribution network. About Solar Power Partners: Solar Power Partners, Inc. (SPP) is a California based renewable energy company that is leading the way in streamlining adoption of clean solar energy by businesses, institutions and municipalities throughout the United States of America. SPP combines best-of-breed technologies and the expertise and best practices of top solar and building industry professionals with the financing strength of Power Purchase Agreements (PPA) giving building owners a clear path to achieving energy independence with lower electrical costs at predictable rates and without the risks or costs of owning and maintaining solar facilities. For more information please see www.solarpowerpartners.com Safe Harbor Statement: This release contains certain “forward-looking statements” relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as “believes, expects” or similar expressions. The forward looking statements contained in this press release include statements regarding the systems to be designed and installed by SPI, . These statements involve known and unknown risks and uncertainties, including, but are not limited to, changes in the design and installation process and general business conditions. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law
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For more information visit www.solarpowerpartners.com
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