Tallahassee, FL 2/23/12 (StreetBeat) -- Solar power plant developer Premier Power Renewable Energy, Inc. (OTCBB:PPRW) has signed a new supply agreement to 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 are slated to begin this month with completion of the systems targeted by the end of the year.The new deal adds to a growing portfolio for Premier Power which includes more than 1,000 operational plants across Europe and the United States.
Systematically building their presence overseas with recent projects in the Czech Republic and Bulgaria, Bjorn Persson, executive vice president of European operations at Premier Power, commented, "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. 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."
A significant decrease in module prices has escalated growth in European markets, according to the company. "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," said Miguel de Anquin, president of Premier Power.
With its miniscule float of 3.3 million shares, Premier Power still remains fragmented in trading volumes on a daily basis and only commands a market cap of $5.52 million and a 21 cent price tag. The chart looks to be leveling and is holding a bottom support at 20 cents currently.
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