SOURCE: Solar Park Initiatives, Inc.

Solar Park Initiatives, Inc.

September 30, 2010 08:00 ET

Solar Park Initiatives Positioned to Capitalize on Grid Parity

PONTE VEDRA BEACH, FL--(Marketwire - September 30, 2010) - Solar Park Initiatives, Inc. (OTCBB: SOPV), a Florida-based solar energy company dedicated to utility and commercial solar park developments in North America, reports that the costs associated with solar electricity are falling mainly due to improved cell efficiency, improved solar manufacturing, and lower construction costs. Manufacturers are quickly approaching a $1 per watt manufacturing cost, which will allow Solar Park Initiatives to generate electricity at the same price as the grid in many areas of the country. Grid Parity is achieved when the decreasing cost of a solar park project (total Engineering, Procurement and Construction [EPC] and ongoing operation and maintenance cost), falls below the cost of electrical energy on a retail basis.

David Surette, CEO of Solar Park Initiatives, stated, "Our current cost structure for EPC and operations and maintenance allows us to create electricity from solar energy at Grid Parity pricing in certain areas of the country. We look forward to rolling out our projects in one of the fastest growing industries worldwide."

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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