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SPI Solar to develop second project in Greece

Vertically integrated photovoltaic solar developer SPI Solar, an LDK subsidiary, is set to begin development of a 2-megawatt ground-mounted solar energy facility in Evros, Greece following the successful acquisition of the necessary contracts and permits.

Construction on the new 2-MW facility is scheduled to begin in the first quarter of 2012. SPI intends to sell the project during the construction phase or upon commissioning.

Power generated by the finished facility will be bought by the Greek Public Power Corp. under a 20-year power purchase deal.

"This is our second major project in Evros in less than a year and we are very pleased with the direction our efforts are taking us in Greece," said Stephen Kircher, chief executive of SPI.

SPI said facility is also its second development in the country. The first, a 4.4-megawatt project, began construction in November 2011. – Katrice R. Jalbuena