Solar Park Initiatives, Inc. (OTC:SOPV), a Florida-based solar energy company dedicated to utility and commercial solar park developments in North America, announced that it has signed a Joint Venture Agreement with a Canadian company that is focused on renewable energy project developments.
Shares of Solar Park were very active today jumping more than 8 percent to $0.39 per share on heavy volume of nearly 450,000 shares compared to its average daily volume of only 124,000 shares. Solar Park has fresh press today along with an e-mail campaign (initiated by a non-affiliated third party) that has provided a nice spike to the Company’s volume. Solar Park has a market cap of $320 million and a 52-week range between $0.30 and $0.56 per share.
The partner company is involved in a plethora of renewable energy technologies to produce clean energy including solar power, wind power, hydro energy generation, biofuels and other bio-mass based generation facilities, and is working on next generation recycling systems. Solar Park Initiatives will bring its established engineering, manufacturing, and financial resources to the partnership which will assist in the development of the partner company's planned solar farm and renewable energy projects. The name of the Joint Venture company will be announced upon the finalizing of the contracts.
Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. The Company will provide engineering, procurement of products and construction ("EPC") via third party suppliers including its sister company Solar Energy Initiatives, Inc. SOPV 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.
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