SOURCE: TGI Solar Power Group Inc

TGI Solar Power Group Inc

November 16, 2009 14:59 ET

TGI to Partner With Prime Solar on Two Projects Valued at $6.3 Million

RED BANK, NJ--(Marketwire - November 16, 2009) - TGI Solar (PINKSHEETS: TSPG), provider of solar and other clean technology products and solutions, announced today that it will partner with Prime Solar SRL on two projects in Italy.

The projects include 1.18 MW PV parks, both in Sicily, with a value of $6.3 Million. According to the VP of Operations Raoul Derito of Prime Solar, "We are at final negotiations with local municipalities, and are expecting to get approvals by yearend. We're very pleased to be working with TGI on these projects, and are looking forward to bringing them to fruition."

Recently the companies signed a Strategic Alliance agreement, outlining cooperation on projects. TGI Solar will receive a management fee plus percentage of profits Prime Solar generates from energy production, as recurring income. Henry Val, CEO of TGI Solar said, "We'll be managing financial aspects, assist with debt and equity financing and oversee other matters to ensure success of these projects. We believe that alliance with Prime Solar will take TGI to the next level."

About Prime Solar: Prime Solar srl (www.primesolar.com) is a licensed Italian Solar Energy and General Building Contractor. The company specializes in the creation and installation of custom-designed residential and commercial solar electric power, solar heating, and wind energy systems.

About TGI SOLAR: TGI Solar (PINKSHEETS: TSPG) is a provider of solar and other alternative energy products and solutions. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to clients on a worldwide basis and currently maintains JVs in Hong Kong and a subsidiary in Italy with solar installation, integration and energy consulting firms.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.

Contact Information