ROSEVILLE, USA: Solar Power Inc. has received an initial commitment of $24.7 million in Recovery Zone Facility Bonds (RZFB) by Sacramento County and is exploring plans to open a manufacturing facility within Sacramento County to build its high-performance solar panels.
On February 17, 2009, President Obama signed into law a $787 billion stimulus bill known as The American Recovery and Reinvestment Act of 2009 (ARRA). The RZFBs committed to Solar Power, Inc. are tied directly to the ARRA.
The Company also announced today that it plans to begin development of a utility-scale photovoltaic solar system in Sacramento County. The system, which will be designed, engineered, and constructed by Solar Power Inc., will exceed 10 megawatts in electricity production capacity and have an estimated value of $50 million upon completion.
“Solar Power, Inc. has positioned itself to pursue the opportunities the federal stimulus plan offers,” said Steve Kircher, Chairman and CEO for Solar Power Inc. “Expanding our manufacturing base to California will significantly enhance our ability to meet growing demand for our solar system development expertise and our top-ranked solar panels across the US,” Kircher concluded.
“This type of development is precisely what the ARRA was intended to promote and will create new manufacturing jobs in Sacramento County,” said Roger Dickinson, Chair of the Sacramento County Board of Supervisors. “Solar Power’s growth in Sacramento County reinforces our position as a leading location for the green technology companies,” stated Rob Leonard, Director of Economic Development for Sacramento County.
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