SOURCE: Solar Park Initiatives, Inc.

Solar Park Initiatives, Inc.

January 20, 2011 08:00 ET

Solar Park Initiatives, Inc. Highlights Achievements for 2010, Files Its 10-K Year End Report, and Files S-1 Registration With the SEC for Distribution of Shares

PONTE VEDRA BEACH, FL--(Marketwire - January 20, 2011) - Solar Park Initiatives, Inc. (OTCBB: SOPV), a Florida-based solar energy company dedicated to utility and commercial solar park developments in North America, announced that it filed its 10-K on Tuesday, December 28, 2010. The company also filed its S-1/A Registration Statement on Wednesday, January 19, 2011 for distribution of shares from the Solar Energy Initiatives spin-off. Upon the SEC declaring the S-1/A Registration effective the process of the distribution of the shares will begin. Any shareholders who sold their shares after the October 29, 2010 record date and December 1, 2010 (new record date) should contact Solar Energy Initiatives for further instructions after the registration is declared effective by the SEC.

"I am very excited about all of the milestones reached in calendar year 2010 by Solar Park Initiatives in a relatively short timeframe. Our business model is on plan and we are looking forward to the first six months in 2011 for continued growth in our developing solar park project pipeline, as well as increased results from our past performance milestones, highlighted below. We intend to be revenue generating, have solar projects completed and show profits by the end of 2011," stated David Surette, CEO.

Highlights for 2010 include:

On 12-07-10 Solar Park Initiatives, Inc. announced funding letter of intent for $11.6 million on 3MW's of solar projects.

On 12-6-10 the Company announced adding David Surette as a new member of the board of directors, opening a new office in Research Triangle Park, NC and initiating a new technology sales program.

On 12-2-10 Solar Park Initiatives, Inc. announced the signing of a letter of intent for a 7MW solar park in Ontario, Canada.

On 11-29-10 the Company announced it signed a Joint Venture agreement with a Canadian Renewable Energy Company.

On 10-12-10 the company announced that it had signed a Letter of Intent to build up to a One Gigawatt solar park in California. The project is planned on a 5,000 acre parcel and could generate up to $3.5 Billion in revenue depending on completed funding and project development.

On 9-30-10 Solar Park Initiatives CEO discusses "Grid Parity." David Surette, CEO of the company stated, "Our current cost structure for engineering, procurement, and construction (EPC) and operations and maintenance allows us to create electricity from solar energy at grid parity pricing in certain parts of the country. Manufacturers are quickly approaching a $1 per watt manufacturing cost."

On 9-27-10 the company announced that it had signed a Letter of Intent to build a solar park on 285 acres of land in California. Solar Park Initiatives will be involved in the design, construction and operation of the solar park which could generate up to $70 million in revenues, depending on completed funding and project development.

On 9-20-10 Solar Park Initiatives, Inc. announced the acquisition of Maple Leaf Renewables Group, Inc. and its developing project pipeline assets in Texas and California.

On 8-30-10 Solar Park Initiatives, Inc. received approval from the Financial Industry Regulatory Authority (FINRA) to begin trading on the NASDAQ OTC under the trading symbol SOPV. Solar Park Initiatives, Inc. became a fully-reporting, publicly-traded company.

The Company filed its annual Form 10-K on 12-28-10. A Form 10-K is an annual report required by the U.S. Securities and Exchange Commission (SEC). The Company also filed an S-1 registration statement as noted on 10-26-10 by the majority stockholder Solar Energy Initiatives, Inc. The Form S-1 is used by public companies to file their registration statement with the SEC. This filing will allow Solar Park Initiatives to issue shares to shareholders from the Solar Energy Initiatives spin-off once the registration is approved by the SEC. We anticipate this process to take between 60-90 days.

The company's SEC filings can be viewed here:

Solar Park Initiatives, Inc. Business Strategy

Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. The Company will provide engineering, procurement of products and construction ("EPC") via third party suppliers including its sister company Solar Energy Initiatives, Inc. SOPV will attempt to sell the resultant electrical production to various utilities and large commercial entities through a Power Purchase Agreement ("PPA"). The Company expects to provide energy savings to commercial and municipality users without any out of pocket engineering, procurement or construction ("EPC") costs to those users of energy.

Forward-Looking Statements

This press release contains forward-looking statements that reflect current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of the companies and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The companies assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the companies' expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the companies from time to time with the United States Securities and Exchange Commission and other regulatory authorities.

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