http://www.solarparkinitiatives.com () —
Solar Park Initiatives, Inc. (SPI), a company dedicated to solar park developments, announced that on July 13, 2010 the Company approved the merger of Solar Park Initiatives, Inc., a majority owned Nevada corporation ("SPI"), into Solar Park Acquisition Corp. for the purposes of becoming a new independent publicly held corporation. Pending final approval from the Financial Industry Regulatory Authority (FINRA), SPI will begin trading on the NASDAQ OTC.BB. Solar Park Initiatives, Inc. is a spin off from Solar Energy Initiatives, Inc. (SNRY), and will be primarily focused on the design and development of solar parks in North America.
Solar Park Initiatives, Inc. is a professional services and engineering firm that provides renewable energy through photovoltaic and solar thermal technologies. The company focuses on locations where insolation (sunshine) is high and land is relatively inexpensive. SPI recognizes that solar facilities can be built to compete with and beat local utility rates. The company's mission is to combine its electric utility expertise with its pipeline of potential host site locations to create a new era in energy power generation. Once trading begins, SPI will be announcing upcoming projects. For more information, visit the company website: www.solarparkinitiatives.com (http://www.solarparkinitiatives.com)
Solar Park Initiatives, Inc. Business Strategy
Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. The Company will attempt to provide engineering, procurement of products and construction ("EPC") via third party suppliers including its sister company Solar Energy Initiatives, Inc. Solar Park Initiatives 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 out of pocket engineering, procurement or construction ("EPC") costs to those users of energy.
This press release contains forward-looking statements that reflect current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of the companies and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The companies assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the companies' expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the companies from time to time with the United States Securities and Exchange Commission and other regulatory authorities.