TGI Solar Power Group Inc. to Develop a 10 MW Solar Facility in the Czech Republic
October 28 2008 - 12:17PM
Marketwired
TGI Solar Power Group Inc. (PINKSHEETS: TSPG), a full turnkey
supplier of vertically integrated systems for a variety of
applications from Solar Parks (solar to grid) to commercial
markets, and Czech-based European Estate Capital, a regional solar
developer, announced today plans to collaborate on a 10 MW power
station to be located in the Czech Republic.
TGI Solar and European Estate Capital have signed a memorandum
of understanding (MOU) that outlines plans for cooperation in
outfitting and installing all of the manufacturing capacity that is
needed to make the solar plant operational. Prague-based European
Estate Capital is a Czech company active in the fields of real
estate management, and energy, throughout Europe and North
America.
But by the year 2020, the Czech Republic should more than double
the share of renewable energy sources from the current 6 percent to
12 percent, following a draft package of measures released by the
European Commission (EC) in January.
"Developers are now positioning for first-mover advantage to
establish operations in these emerging PV markets," says the report
titled "Solar PV Development Strategies in Europe 2008-2020" by
Emerging Energy Research (EER).
"With its close proximity to the German market we believe that
the Czech Republic is moving forward with all right financial
incentives towards solar development," said William Lieberman,
President of TGI Solar. "The Czech Republic has strong political
support for renewable energy development, and has very high
renewable energy feed-in tariffs which demonstrate the importance
of renewable energy development to the government and greatly
enhance the economics of renewable energy projects in the
country."
"We are excited to be working with TGI Solar on this initial
first project. It will pave the way for solar installations
throughout the Czech Republic," said Dmitriy Bondarev, CEO of
European Estate Capital.
About TGI SOLAR
TGI Solar (TSPG) is provider of manufacturing equipment and
turnkey manufacturing solutions to the photovoltaic (PV) industry.
The Company's products and solutions are used for production of
solar grade polysilicon, manufacturing of multi-crystalline silicon
wafers, production of solar cells and assembly of complete modules.
The firm provides facility and process design and integration
know-how with its equipment. The Company offers its products and
services to PV product manufacturers on a worldwide basis and a
substantial percentage of its sales are to customers outside the
United States.
For more information see: www.tgisolargroup.com.
Forward-Looking Statements
Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1965: Those statements contained herein which are not
historical are forward-looking statements, and as such, are subject
to risks and uncertainties that could cause actual operating
results to materially differ from those contained in the
forward-looking statements. Such statements include, but are not
limited to, certain delays that are beyond the company's control,
with respect to market acceptance of new technologies, or product
delays in the testing and evaluation of products, and other risks,
as detailed in the company's periodic filings with the Securities
and Exchange Commission.
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Contact: TGI SOLAR POWER GROUP INC. Billy Lieberman
1-888-766-6527 David Zazoff 212-505-5976
http://tgisolargroup.com
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