Prime Sun Power Inc. is moving to capture the clean energy market, which is primed to explode in the next two decades according to renewable energy experts.
With a specific focus on solar, the Company has a solid business strategy to develop, build and operate utility-scale power plants and announced today plans to undertake a major campaign of photovoltaic (PV) solar power generation in Europe, localized in Italy, Greece and Turkey.
The plan is to create 500 megawatts (MW) of PV capacity by 2013, 150 MW of which shall be acquired by third party investors. Third party project sales will fund development and construction costs of the company’s power plants, in addition to proceeds derived from ongoing negotiations that PSPW management is conducting with strategic financiers.
Acting as leader of a consortium and employing the company’s sound relationships within its network (which consist of some of the world’s top EPC and solar module suppliers) in order to fulfill all projects on a Turnkey basis is PSPW’s business strategy for success.
With the ultimate goal of becoming a world leader in solar energy production, the company is positioning itself to storm the solar market, producing exciting returns for its investors in the coming months and years ahead.
Having signed a frame agreement with an undisclosed European institutional investor to sell 100 MW projects on a turnkey basis, PSPW anticipates that the agreement will be finalized quite soon. The company is also working on some 100 MW PV solar plants in Italy and 50 MW plants in Greece, and is just wrapping up technical and legal due diligence on licensing and land use for these projects.
Also in the works are a series of discussions to obtain financing for planned expansion of the Company’s infrastructure with strategic financiers aimed at creating a wholly-owned Swiss subsidiary to be known as PSP Europe AG, which will manage PSPW’s European operations and own the relevant assets there.
CEO of PSPW Olivier de Vergnies spoke of the Company’s goals in the PV solar market as “ambitious but achievable”, given the right partnerships. He also noted recent moves to obtain “ideal sites” in several important regions for PV energy production – moves being realized through tight-knit relations with local industries and governmental organizations.
The Company is confident that solar energy is going to take off in Europe, both for energy production and as part of a broader “clean energy solution” for the future, and Mr. Olivier de Vergnies boldly stated that PSPW intends to spearhead the charge.