Jan. 24, 2011
EUR 0.37 USD 0.49 EUR 256,900 USD 345,600
Commercial Development of the Acquired Land Resources
The management of EURO SOLAR PARKS BULGARIA, LLC (EUSB) expects to be ready to start with the construction of the PV-Plant after preparing the necessary documents of development, such as detailed structural plan, and signing a contract with the regional Electricity Distribution Company. It is furthermore expected to complete successfully the licensing application in 2011 and start building the PV-Plant by the end of 2011.
Due to the favorable economic situation on sight, the management currently reviews and assesses further investment opportunities including additional land resources of approximately 50,000m2, providing ground capacity for additional PV-Installations up to 2MW.
Management Commentary on the Recent Land Acquisition
Dimitrios Argyros Bulgaria
The Company indicated today that its business goals and strategy remain unchanged. Euro Solar Parks, Inc. will continue focusing on emerging markets which guarantee, for a period of at least 25 years, growing demand for renewable energy, attractive input charges and, much more importantly, low maintenance cost.
Maintenance costs not only include the operational maintenance of the solar power plant itself, but also interest cost, insurance cost as well as administrative expenses. Strictly following this global strategy, Euro Solar Parks, Inc. will further concentrate on the South Eastern European and South American geographical markets.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "will," "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
ABOUT EURO SOLAR PARKS, INC.
SOURCE Euro Solar Parks, Inc.