TGI to Partner With Prime Solar on Two Projects Valued at $6.3 Million
November 16 2009 - 1:59PM
Marketwired
TGI Solar (PINKSHEETS: TSPG), provider of solar and other clean
technology products and solutions, announced today that it will
partner with Prime Solar SRL on two projects in Italy.
The projects include 1.18 MW PV parks, both in Sicily, with a
value of $6.3 Million. According to the VP of Operations Raoul
Derito of Prime Solar, "We are at final negotiations with local
municipalities, and are expecting to get approvals by yearend.
We're very pleased to be working with TGI on these projects, and
are looking forward to bringing them to fruition."
Recently the companies signed a Strategic Alliance agreement,
outlining cooperation on projects. TGI Solar will receive a
management fee plus percentage of profits Prime Solar generates
from energy production, as recurring income. Henry Val, CEO of TGI
Solar said, "We'll be managing financial aspects, assist with debt
and equity financing and oversee other matters to ensure success of
these projects. We believe that alliance with Prime Solar will take
TGI to the next level."
About Prime Solar: Prime Solar srl (www.primesolar.com) is a
licensed Italian Solar Energy and General Building Contractor. The
company specializes in the creation and installation of
custom-designed residential and commercial solar electric power,
solar heating, and wind energy systems.
About TGI SOLAR: TGI Solar (PINKSHEETS: TSPG) is a provider of
solar and other alternative energy products and solutions. The firm
provides facility and process design and integration know-how with
its equipment. The Company offers its products and services to
clients on a worldwide basis and currently maintains JVs in Hong
Kong and a subsidiary in Italy with solar installation, integration
and energy consulting firms.
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: Henry Val Email Contact
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