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Vancouver, Canada (SPX) Dec 09, 2010 RainChief Energy has announced the execution of a Memorandum of Understanding with Prometea Partners Ltd. for the development of a 1MW PV solar rooftop plant with one of Italy's leading industrial corporations. Prometea is a London-based corporation with its primary operations office and subsidiary operating companies based in Italy. It is expected that the initial project MOU will be expanded into a long-term agreement between the two companies for the joint development of a minimum of 60MW of PV solar capacity in Italy over the next 24 month period. Prometea and its subsidiary operating companies are experienced turn-key facilitators of PV solar power projects, currently focused on development opportunities in Italy. The group brings together a highly professional organization with expertise in all the relevant aspects of renewable energy project development. Prometea has extensive experience in this specialized sector and combines technical and financial expertise with on-the-ground knowledge and regulatory awareness. ENERGYKA, ENERGYKA Engineering and ENERGYKA Electrosystems ("Prometea Group") are all Italian subsidiaries of Prometea operating in the areas of engineering, design, development, installation and connection of PV solar plants. The Prometea Group provides design and installation services, including EPC and subcontracting for ground or roof mounted PV systems. Prometea also provides RainChief with in-depth knowledge of the incentive framework and the approval process required for officially authorized PV projects in Italy. Additionally, the group has the professional background to determine the most ideal authorized rooftop or field sites for potential project development and to source and manage bankable engineering, procurement and construction (EPC) contractors with a proven record of PV project completion. To-date, Prometea has been involved in the development of over 175MW of PV solar projects in Italy. In announcing the MOU, RainChief President, Brad Moynes said, "In partnering with Prometea we have joined with one of the most experienced PV solar development groups in Italy and the European Union. Their demonstrated project record and in-depth knowledge of the solar industry will serve RainChief well as we establish our presence in the EU solar sector. We look forward to expanding our relationship with Prometea."
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