EL DORADO HILLS, Calif., Feb. 23, 2012 (GLOBE NEWSWIRE) -- Premier Power Renewable Energy, Inc. (OTCBB:PPRW), a global leader in the development and construction of solar power plants, today announced it will provide a total of 5 MWp in equipment for solar projects located in Scandinavia. The plants will be funded through an agreement with a Danish firm Viasol A/S. Shipments of equipment will begin in February, and all systems are scheduled for completion by the end of 2012.
"We are continuing with our strategic expansion to European markets, in 2011 we expanded to the Bulgarian market and now we are expanding to the Scandinavian market." said Bjorn Persson, executive vice president of European operations at Premier Power. "Along with our recent plants in the Czech Republic and Bulgaria, Scandinavia is yet another example of Premier Power's prowess in strategically entering emerging markets throughout Europe. Our market agility and ability to shift strategy – from organic growth, to partnerships, to acquisition, to joint ventures – is what sets us apart, and we will continue to explore such opportunities in the future."
In September of 2011, Premier Power with its joint venture with European firm Plaan Czech, entered into an agreement to build a total of 16.2 MW in solar power plants in Bulgaria. To date, Premier Power's portfolio includes more than 1,000 operational plants across Europe and the United States.
"The significant decline in module prices we've seen over recent months has caused many European markets to reach grid parity earlier than expected," said Miguel de Anquin, president of Premier Power. "By mitigating the need for government incentives, these markets equate to stable and predictable growth for Premier Power. We expect to see this trend proceed in similarly structured markets as the global solar industry continues to mature."
About Premier Power
Premier Power Renewable Energy, Inc. is a leading global provider of large and medium-scale solar power systems, delivering unmatched experience to commercial, governmental and utility customers globally. Premier Power designs, engineers and integrates the solar industry's leading products. Premier Power's technologies and services have enabled its customers to maximize clean energy output along with project savings. Today, Premier Power designs and deploys the most innovative solar electric systems through market-leading innovation and exceptional customer service. Premier Power is headquartered in El Dorado Hills, CA and has common stock quoted on the OTC Bulletin Board under the symbol PPRW.OB. Additional information is available at the Company's website at www.premierpower.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from current expectations.
There can be no assurance that demand for the company's products will continue at current or greater levels, or that the company will continue to grow revenues, or be profitable.
There are also risks that the company's pursuit of providing solar solutions globally might not be successful, or that if successful, it will not materially enhance the company's financial performance; that the company could fail to retain key employees; that changes in customer requirements and other general economic and political uncertainties could impact the company's relationship with its customers; and that delays in projects, competitive pressures or technical difficulties could impact timely delivery of revenues and projects; and other risks and uncertainties that are described from time to time in Premier Power's periodic reports and registration statements filed with the Securities and Exchange Commission.
The company specifically disclaims any responsibility for updating these forward-looking statements.