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20.03.2010 | 00:50
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Business Wire · Mehr Nachrichten von Business Wire

Premier Power Announces Record Contract Backlog in Spain

Premier Power Renewable Energy, Inc. (OTCBB: PPRW), a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S., Spain and Italy, today announced that its Spanish operation has reached record contract backlog in its first quarter of 2010 with more than 3MW of solar rooftop contracts secured.

"The change in the timing of the permitting process by the Spanish government at the beginning of 2009 delayed our ability to recognize Spanish rooftop revenue during the year, despite record order intake," said Dean R. Marks, chief executive officer of Premier Power. "We have continued our momentum with record contract backlog in the first quarter of 2010, representing more than a 100% increase over this time last year.

"With a majority of Spain''s rooftop solar energy targets unmet, and increased government support of rooftop solar systems through a revised feed-in-tariff, the commercial rooftop market has become the leading solar market segment in Spain. We continue to see a substantial growth opportunity in Spain for rooftop and building integrated solar energy systems, and with our global experience and engineering and design expertise, we feel we are strongly positioned to continue our leadership role in this growing market," concluded Marks.

About Premier Power

Premier Power Renewable Energy, Inc. is a leading global provider of large and small-scale solar power systems, delivering unmatched experience to commercial, governmental and residential customers throughout North America and Europe. Premier Power designs, engineers and integrates the solar industry''s leading products. Premier Power''s technologies and services have enabled its customers to maximize clean energy output along with project savings. Today, Premier Power designs and deploys the most innovative solar electric systems through market-leading innovation and exceptional customer service. Premier Power is headquartered in El Dorado Hills, CA and has common stock quoted on the OTC Bulletin Board under the symbol PPRW.OB. Additional information is available at the Company''s website at www.premierpower.com.

FORWARD-LOOKING STATEMENTS

This release contains certain "forward-looking statements" relating to the business of Premier Power Renewable Energy, Inc. ("Premier"), which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to reliance on a limited number of customers, market demand, cyclical nature of our markets, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Premier''s current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting Premier will be those anticipated by Premier. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contacts:

Investor Contact:
MKR Group, Inc.
Todd Kehrli & Charles Messman
323-468-2300
pprw@mkr-group.com


© 2010 Business Wire

Link: http://www.finanznachrichten.de/nachrichten-2010-03/16426842-premier-power-announces-record-contract-backlog-in-spain-004.htm