13:30 | 27.04.2010
Prime Sun Power Inc. Appoints a Team of 12 Engineers to Manage and Supervise Solar Power Plant Projects
Prime Sun Power Inc. (OTCBB: PSPW), today announced the engagement of a
team of 12 Engineers to manage and supervise the Prime Sun Power
photovoltaic power plant projects. The team is lead by Mr. Dimitris
Kazantzis, who will serve as Chief Operations Officer. Mr. Kazantzis
will be appointed to the Board of Directors of Prime Sun Power.
The engagement is governed by the terms of an agreement with Hellenic
Technologies to allocate this team to work exclusively for PSP. This
team is expected to more than double in personnel over the coming 2
years. The team has a wealth of experience in management and engineering
of large industry scale projects, with a global track record. The team
scope of work includes the following activities:
Preparation of Requests for Proposals (RfPs) for Engineering,
Procurement and Construction (EPC), operation and maintenance,
engaging security contractors, and coordination of RfP responses;
Contractors qualification, selection, negotiation and technical
contracts finalization;
Design of the overall Command and Control System of the Photovoltaic
Power Plants and coordination of the operation and maintenance
planning; and
Project Management on behalf of Prime Sun Power, including, system
design authority, supervision of EPC contractors, reporting on
projects, acceptance of EPC contractor works, handling of technical
claims & issues, supervision of maintenance/operation training,
supervision of handover following grid connection.
Mr. Olivier de Vergnies, the CEO of Prime Sun Power, commented, “I am
pleased to work with our new team of Engineers and I am confident that,
with their capabilities, we will be able to execute our projects in a
precise timing, with efficiency and profitability for the best interests
of our shareholders. We are recruiting other staff members to complete
our team by June 2010.”
“My team delivered many projects over 20 years in a timely manner. We
have worked with major vendors delivering very important projects
worldwide. We are certain that our mission with Prime Sun Power will be
successful,” said Dimitris Kazantzis, CEO of Hellenic Technologies.
Prime Sun Power is positioning itself as a clean energy utility company
with an emphasis on the development, construction and operation of its
own and third party utility-scale photovoltaic power plants. Prime Sun
Power is focusing on photovoltaic solar power generation in Europe,
particularly in Italy, Greece and Turkey.
Prime Sun Power plans to develop, build and operate 500 megawatts of
photovoltaic solar power generation through the end of 2013 of which 150
megawatts are expected to be acquired by third party investors. In
addition to Prime Sun Power expectations of proceeds from selected
strategic financiers currently in negotiations with management, Prime
Sun Power plans to use revenues generated from sales of projects to
third parties in the development and construction of its own power
plants. The Prime Sun Power strategy is to act as a consortium-leader
with reputable world-leading EPC and module suppliers to deliver all
projects on a turnkey basis.
Forward-Looking Statements
This press release contains ‘forward-looking statements’ as defined in
the U.S. Private Securities Litigation Reform Act of 1995. These
statements are based upon our current expectations and speak only as of
the date hereof. These forward-looking statements are based upon
currently available competitive, financial, and economic data and
management’s views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain. Our actual results
may differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties. Prime Sun Power Inc. cannot provide assurances that any
prospective matters described in the press release will be successfully
completed or that Prime Sun Power Inc. will realize the anticipated
benefits of any transactions. Various risk factors that may affect our
business, results of operations and financial condition are detailed
from time to time in the Current Reports on Form 8-K and other filings
made by Prime Sun Power Inc. with the U.S. Securities & Exchange
Commission. Prime Sun Power Inc. undertakes no obligation to update
information contained in this release.
For further information please visit www.primesunpower.com
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