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Article: Premier Power Acquires Leading Italian Solar Project Developer and Distributor; Continues Global Expansion into Leading European Markets.
- Article from:
- Food Business Week
- Article date:
- June 25, 2009
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Premier Power Renewable Energy, Inc. (OTCBB:PPRW) announced its entry into Italy, the hottest solar market in Europe, with the acquisition of Arco Energy, a privately held solar project developer, EPC and distributor with more than 20 mega watts of permitted projects worth approximately $114 million in potential revenue.
Throughout its history Arco Energy has been profitable and is profitable today and as a result the acquisition will be immediately accretive for Premier Power. The Company anticipates Italian projects to begin generating substantial revenue growth for Premier Power in the second half of this year. Based on Arco's historical revenue, net income ...