Premier Power makes $27.6M deal for solar power plants
Premier Power Renewable Energy Inc. of El Dorado Hills, Calif., has
finalized a $27.6 million agreement with an investment fund focused on expanding
the U.S. solar market to build utility-scale solar power plants in the U.S., the
company announced Thursday.
Under the agreement with Chaori Solar USA LLC, a subsidiary of Shanghai
Chaori Solar Energy Science & Technology Co. Ltd., Premier Power will
perform engineering, procurement and construction services using panels provided
by Sunperfect Solar Inc., the exclusive solar panel distributor for Shanghai
Chaori Solar in Northern America.
The announcement marks Premier Power’s continued relationship with
China-based investment groups. The company first targeted China investment funds
in 2010 when one of its solar plants in Italy was sold to the China Energy
Conservation and Environmental Protection Group.
“Our expertise in the U.S. and Europe allows Premier Power to pursue the
strategy of providing assets and construction services to respected Chinese
asset investment funds like Shanghai Chaori,” Premier Power Chief Executive
Officer Dean Marks said in a news release. “We are confident this agreement is
the first of more to come.”
From the Sacramento Business Journal.