With focus on developing renewable energy projects Solar Park Initiatives announced that it has signed a Joint Venture Agreement with a Canadian company. Solar Park Initiatives is Florida-based and is a solar energy company dedicated to utility and commercial solar park developments in North America.
The partner company is involved in an array of renewable energy technologies to produce clean energy including solar power, wind power, hydro energy generation, biofuels and other bio-mass based generation facilities, and is working on next generation recycling systems.
Solar Park Initiatives plan to involve its established engineering, manufacturing, and financial resources into the partnership which will assist in the development of the partner company's planned solar farm and other renewable energy projects. The name of the Joint Venture company will be announced upon the finalizing of the contracts.
Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. It intends to provide engineering, procurement of products and construction ("EPC") via third party suppliers including its sister company Solar Energy Initiatives, Inc. SOPV will attempt to sell the resultant electrical production to various utilities and large commercial entities through a Power Purchase Agreement ("PPA"). The Company expects to provide energy savings to commercial and municipality users without any overhead engineering, procurement or construction ("EPC") costs to the users of this energy.