Sunday, April 22, 2007

Solar Integrated : 2 MW Deal Marks First Italian Sale And First Ground-Mount System

Solar Integrated Technologies, Inc., a leading provider of building integrated photovoltaic (BIPV) roofing systems, announced that it has won two contracts in Italy totaling U.S. $10 million to provide 2 MW of solar systems at two sites outside of Rome, Italy. The project includes a ground-mount system and a BIPV system at the Malagrotta Landfill. The project, which is the Company’s largest European contract to date as well as one of the largest announced solar deals in Italy, is expected to be completed in late 2007. In addition to the initial revenue for the project, the Company also expects to receive annual bonus revenue and cash payments based on a revenue sharing arrangement from the power produced by the solar systems.

R. Randall MacEwen, President & CEO of Solar Integrated, said: “Winning this project in Italy is a real mark of our success in expanding our geographic reach. We have already completed over 50 projects in Germany, Spain and France, so this move into the attractive Italian market is the logical next step. In addition, this is our first ground-mount system, demonstrating our ability to continue innovating and expand our target market applications and product offering.”

“The flexible nature of Solar Integrated’s solar solution was very important to securing this project at the in-use Malagrotta Landfill site,” stated Manlio Cerroni, President and owner of Colari Consorzio Laziale Rifiuti and Sorain Cecchini S.p.A. “Their solar product is able to effectively conform to our site layout and unique landfill terrain, including moving ground. In addition, we are now able to transform a previously unutilized hillside into a valuable revenue-generating asset. We are thrilled to have a renewable power generating capability that is expected to produce over 54 million kilowatt hours of power and displace over 45,000 metric tons of carbon dioxide emissions over the next 20 years.”

The project is a significant landmark for Solar Integrated to be entering the Italian market, following its early success in several other key European countries. With recent changes to the Italian feed-in tariff program, BIPV projects are likely to become more attractive in the country, and Solar Integrated plans to pursue this market opportunity.

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