Solar Energy Initiatives (SNRY.OB) Spin-off Signs Letter of Intent to Build 20MW Solar Park in California
Solar Park Initiatives, Inc. (SOPV.OB; "SPI"), which has only been an OTCBB listed company for less than a month, announced today that it has signed a Letter of Intent (LOI) to build a solar energy park in California. Through a Purchase Power Agreement with a local utility company, the host landowner has secured 285 acres of land for the design, construction and operation of the new 20 MegaWatt park. Up to $70 million is expected to be generated in revenues from the project. Solar Park Initiative’s CEO, David Surette, commented, "Solar Park Initiatives continues to search for good opportunities in…