SPI Solar photovoltaic expects annual revenues of approximately $100 Million for FY 2011

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SPI Solar photovoltaic expects annual revenues of approximately $100 Million for FY 2011


By Greentech Lead Team; SPI Solar a vertically integrated
photovoltaic solar developer, announced preliminary financial results for the
fourth quarter and fiscal year ended December 31, 2011.

For the year ended December 31, 2011 the Company expects annual
revenues of approximately $100 million, exceeding the Company’s November 2011
business outlook. On November 10, 2011 Company announced its financial results
for the third quarter of fiscal 2011 and expected net sales from $70 million to
approximately $95 million.

Through the Company’s close relationship with LDK Solar,
SPI extends the reach of its vertical integration from silicon to system. From
project development, to project financing and to post-construction asset
management, SPI delivers turnkey world-class photovoltaic solar energy
facilities to its business, government and utility customers.

Based on the Company’s robust pipeline of projects,
SPI anticipates
net sales for 2012 to double 2011 levels, as the company leverages its
identified domestic and international growth opportunities.

SPI plans to report final results for the fourth quarter
and full-year 2011 in March 2012.

SPI recently was contracted by
BLT Enterprises (“BLT”) to design and build a 400 kW DC distributed generation
PV solar energy facility (“SEF”) to help power operations at Volkswagen’s U.S.
Test Center California (“TCC”) which encompasses a Technical Center and an
Emissions Laboratory located in Oxnard, CA.


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