SPI Solar has completed the acquisition process to serve as the developer of a 2MW fixed-tilt ground-mount solar energy facility in Greece. It will be working alongside Global Energy Services with modules supplied by LDK. This will be the company’s second major development in Evros, a north eastern region of the country.
SPI acquired a limited liability corporation to gain interest in the Evros development to become the developer of record for the project, which was fully permitted and ready to be built. The electricity generated by the facility will be purchased by the Greek Public Power Corporation through a 20-year Power Purchase Agreement. Construction is scheduled to begin in the first quarter of 2012. It is SPI’s intention to sell the project during the construction phase or upon commissioning.
“This is our second major project in Evros in less than a year and we are very pleased with the direction our efforts are taking us in Greece,” said Stephen Kircher, CEO of SPI. “The projects we are executing and pursuing in Greece are perfectly suited to our experience and skill set. It’s a real plus to be able to make a positive economic contribution through the jobs we will be creating and the low-cost, sustainable electricity our facilities will be producing. We look forward to more projects in Greece and elsewhere in Europe.”