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| Prime Sun Power Inc. (OTC:PSPW) Signs 100M Euros Definitive Agreement for Sale of Italy Power Plant |
| 2010-03-09 |
Prime Sun Power Inc., announced that the Company has signed a definitive agreement for the sale of a twenty-five megawatt photovoltaic power plant in Italy. This is a major event for the Company as it is expected to generate gross revenues of over 100 million Euros in 2010. PSP receives interest for 12 million Euros of strategic investments in the Company from module suppliers. The transaction is the first sale under the terms of a signed frame agreement to sell 100 megawatt projects on a turnkey grid-connected basis to an institutional investor.
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