Premier Power Inks 5 MW Agreement for Scandinavian Solar Projects

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El Dorado Hills, California  United States

Premier Power Renewable Energy will provide a total of 5 MWp in equipment for solar projects located in Scandinavia. The plants will be funded through an agreement with a Danish firm Viasol A/S. Shipments of equipment will begin in February, and all systems are scheduled for completion by the end of 2012.

"We are continuing with our strategic expansion to European markets, in 2011 we expanded to the Bulgarian market and now we are expanding to the Scandinavian market." said Bjorn Persson, executive vice president of European operations at Premier Power. "Along with our recent plants in the Czech Republic and Bulgaria, Scandinavia is yet another example of Premier Power's prowess in strategically entering emerging markets throughout Europe. Our market agility and ability to shift strategy -- from organic growth, to partnerships, to acquisition, to joint ventures -- is what sets us apart, and we will continue to explore such opportunities in the future."

In September of 2011, Premier Power with its joint venture with European firm Plaan Czech, entered into an agreement to build a total of 16.2 MW in solar power plants in Bulgaria. To date, Premier Power's portfolio includes more than 1,000 operational plants across Europe and the United States.

"The significant decline in module prices we've seen over recent months has caused many European markets to reach grid parity earlier than expected," said Miguel de Anquin, president of Premier Power. "By mitigating the need for government incentives, these markets equate to stable and predictable growth for Premier Power. We expect to see this trend proceed in similarly structured markets as the global solar industry continues to mature."