Premier Power announces 16.2MWp photovoltaic solar energy plant in Bulgaria

Premier Power Renewable Energy, Inc. (OTCBB:PPRW), a global leader in the development and construction of solar power plants, today announced that the construction of the 16.2MWp Zdravetz utility scale solar power plant in Bulgaria has started. The project is scheduled to be completed during second quarter quarter of 2012.

In September of 2011, Premier Power with its joint venture with European firm Plaan Czech, entered into an agreement to build the 16.2 MWp Zdravetz solar power plants in Bulgaria. The solar power plant is repurposing the land that once was a coal mine. For every kWh generated from the sun, the power plant will receive approximately $0.30 for the next 20 years from energy administration.

Today’s announcement marks Premier Power’s continued expansion in Europe. The company first began in Spain in 2007, it expanded to Italy and more recently it expanded Central and Eastern Europe. In addition, Premier Power announced last week an agreement for Scandinavia.

"These projects underscore Premier Power’s unparalleled ability to rapidly respond to dynamic economies and shifting renewable energy policies in emerging and established markets around the world. Our previous successes in Eastern Europe — a region few others have been able to effectively penetrate — are now enabling us to capture significant market share in Bulgaria," said Bjorn Persson, executive vice president of European operations at Premier Power. "We look forward to building our presence in Bulgaria and other Eastern European countries as they aggressively target their renewable energy goals."

Premier Power has built a strong presence in North America and Europe through the development and construction of more than 1,000 solar power projects. With utility-scale projects growing in size across America, there is an increasing demand for providers of turnkey EPC services with a proven track record of delivering power plant performance.