Solar Energy Initiatives is working on its corporate mission to Renew The Nation through economic development. The company intends to bring about this development through the sale and installation of solar technologies such as solar thermal and photovoltaic technologies. Plans have been updated for Solar Park Initiatives, a subsidiary unit of Solar Energy Initiatives in line with this corporate mission.
David Fann, Chief Executive Officer of Solar Energy Initiatives, remarked that the company’s board, after taking into consideration the prevailing market conditions, funding requirements for Solar Park Initiatives and timing of regulatory approvals, expects the completion of a transaction in the first quarter of the year 2010, aimed at unlocking the long-term value for its shareholders. Fann further stated that the completion of this transaction will enable both Solar Energy Initiatives and Solar Park Initiatives to commercialize their respective pipelines.
Solar Park Initiatives aims at developing large utility-scale solar parks. Projects starting from 10 to 500 megawatts will be targeted by Solar Park Initiatives in geographic regions with incentives from the federal government for renewable energy. Solar Park Initiatives continues in its effort to track down a number of solar park opportunities over 400 megawatts and is currently examining several new projects.