Solar Energy Initiatives buys land for 100 MW solar park

Ponte Vedra Beach, Fla., November 9, 2009 – Solar Energy Initiatives, Inc. signed a contract securing land for the design, construction and operation of a solar park in California.

Solar Park Initiatives, a unit of Solar Energy Initiatives, will be responsible for providing engineering, permitting, construction, operations and maintenance as well as obtaining the financing of the solar park.

SEI will procure the solar panels and balance of system for the project.

SEI will begin preliminary work, including zoning, permitting, EPA approvals and other activities immediately with construction estimated to begin in late 2010.

The contract possesses a 25-year life with additional renewal options. The 100 MW project will be constructed in various increments over a three-year time frame.

Solar Park Initiatives is a recent spin-off of Solar Energy Initiatives.

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Solar Energy Initiatives creates spin off of solar park company

Ponte Vedra Beach, Fla., October 1, 2009 – Solar Energy Initiatives will be spinning off Solar Park Initiatives, its wholly owned solar park company.

SNRY’s shareholders of record will receive one common share of Solar Park Initiatives for every two common shares of SNRY owned.

As a result of the spin-off, both companies are expected to benefit from sharper management focus, clearer strategic vision and greater opportunities to access and allocate capital, while concentrating on investments in their respective growth areas.

Solar Park Initiatives will focus on developing large utility-scale solar parks. Under this arrangement the new company will manage a previously announced West Texas solar park project (estimated to be over 300 MW) while pursuing other solar park projects currently under evaluation by SNRY.

Solar Park Initiatives will target projects ranging from 10 to 500 MW in geographies favorable for development. SNRY will procure the solar system technologies for Solar Park Initiatives’ projects, thus enabling both companies to enjoy a symbiotic relationship while focusing on their core businesses.