SPI Solar, US-based EPC services provider, has announced its third Greek venture, having acquired the necessary paperwork. Working alongside local partners SDL Solar and Global Energy Services, the installation is expected to be a 1MW fixed-ground-mount solar facility, located in Rhodope Prefecture, north-eastern Greece. The electricity will be purchased by Greek Public Power Corporation through a 20-year PPA.

Earlier this month SPI released its preliminary financial results, forecasting its net sales for this year to double 2011 levels. In January 2012, SPI announced the second project, a 2MW facility also located in the Evros region. The first project, announced in August 2011, was a 4.4MW plant in the Evros region.

Once completed, SPI intends to perform operations and maintenance of the facility over the term of the PPA. The plant will use LDK’s high-performance solar modules.

“This project brings a total of 7.4 megawatts under development by SPI in Greece in less than a year,” said Stephen Kircher, CEO of SPI. “Greece provides a very rewarding environment for us to do business in. This project will produce a net economic gain on many levels. It will be owned and operated by private investors within Greece, and as with all of the SEF developments we engage in, local jobs will be created during the construction of the facility. And once completed, the facility will be producing low-cost, sustainable electricity for decades to come.”