North Coast Solar Stocks

October 19, 2009

Solar Power, Inc. Signs Additional Supply Agreement with Bayer and Raach for 1.5 Megawatts as First-Phase Order for a 5-MW Bavarian System

Filed under: SOPW — Tags: , , , — Jason @ 11:06 am

Agreement Marks Third 2009 Order with Solar Power, Inc. by German Solar System Installer

11:06 am EDT, Monday October 19, 2009

ROSEVILLE, Calif.–(BUSINESS WIRE)–Solar Power, Inc. (“SPI”) (SOPW) announced today that it has executed a second supply agreement with Bayer and Raach, a German solar installation company serving the residential and commercial market segments throughout Germany and Southern Europe. The supply agreement calls for SPI to provide 1.5 megawatts of SPI’s 200-watt modules to meet initial-phase requirements for a 5-megawatt system Bayer and Raach is installing in Bavaria. The system will be built in phases over 2009 and 2010, ultimately calling for a total of 5 megawatts of SPI’s 200-watt modules which are top ranked for performance with the California Energy Commission.

“Bayer and Raach have placed orders with us in excess of 3 megawatts so far this year. We look forward to continuing to provide Bayer and Raach with our top performing modules and innovative racking products as they to pursue their business development activities throughout Germany and Southern Europe,” said Bradley Ferrell, President of SPI’s Commercial Sales Division. “This agreement further validates our international business development strategy as we continue to build other relationships with strategic clients similar to Bayer and Raach,” Mr. Ferrell concluded.

Bayer and Raach are engaged in renewable energy consulting, as well as planning and installation of photovoltaic systems. The German company is ideally positioned to sell SPI’s products throughout their European market area which serves Germany, Italy, the Czech Republic and Slovenia. SPI continues to advance its international sales strategy through sales of its top performing modules and proprietary commercial systems, SkyMountTM and PeaqTM solar canopies.

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