Nov 19 2009
Executing its “RENEW THE NATION” grass root campaign aimed at reducing the global dependence on fossil fuels, Solar Energy Initiatives has signed a Financing and Joint Marketing Agreement with a Western US-based municipal financial services institution, to market solar solutions to municipalities across the country.
Under the terms of the agreement, the financial services institution will exclusively market photovoltaic and solar thermal technologies, developed by Solar Energy Initiatives and aimed at reducing greenhouse gas emissions, to more than US 100,000 municipalities. In addition to marketing, the institution will also provide project-based funding for contracts it secures for implementation by Solar Energy Initiatives.
Solar Energy Initiatives generates revenues from the sale of solar equipment and remaining systems, as well as collects energy provision fees from municipalities under contracts extending over a period of 20–25 years.
RENEW THE NATION’s focus also includes redeploying a small segment of US personnel in renewable energy projects.
Expressing pleasure on tying with a prominent partner for the RENEW THE NATION project, David Fann, Chief Executive Officer of Solar Energy Initiatives, sees the agreement as a means to gain sole access to potential new projects that are capable of bolstering the company’s project pipeline. Fann believes that Solar Energy Initiatives’ cost effective and high value energy solutions, in combination with the possibility of 100,000 additional projects from the association, will award new contracts to the company in 2010.
President and Chief Financial Officer, Greg Bakeman, termed the agreement as a significant opportunity for securing additional municipal contracts with immense profit generating potential. He believed that the proven ability of Solar Energy Initiatives to secure similar contracts will allow the company to capitalize on initiative, which holds promise for bringing about a paradigm shift and enhance revenues shareholder value and market presence, in the future.
Source: www.SolarEnergy.com