(Source: Business Wire)Solar Energy Initiatives, Inc. (OTCBB:SNRY) executing on a grass roots campaign, "RENEW THE NATION", to help redeploy a portion of the U.S. work force and focus on reducing the world's dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced that it has recorded $2.6 million in revenue for the Fourth Quarter ended July, 31 2009. This represents a 459% increase in sequential quarterly revenues.

"Management is extremely pleased to have successfully exceeded its previously stated top line guidance," said David Fann, CEO of SNRY. "Solar Energy Initiatives strong fourth quarter performance is a direct result of our ability to implement contracts from our rapidly growing $100 million project pipeline. Our proven business model of providing cost effective energy solutions to municipalities has established Solar Energy Initiatives as a recognized name within the renewable energy market. The recent announcement of our spin-off company, Solar Park Initiatives, has increased our ability to attract additional commercial projects. We believe this will ultimately lead to an increase in completed commercial projects, expansion of our geographic footprint and ultimately improve shareholder value."

2009 Operational Highlights

The Company announced that it will be spinning-off Solar Park Initiatives, Inc., its wholly owned solar park company.

Solar Park Initiatives will focus on developing large utility-scale solar parks. Under this arrangement the new company will manage a previously announced West Texas solar park project (estimated to be over 300 megawatts) while pursuing other solar park projects currently under evaluation by SNRY.

Solar Energy Initiatives signed a $6 million turn-key contract with a Northeast U.S. municipality.

This project is expected to begin in late October, 2009.

SNRY formed a partnership with three Jacksonville job training and placement agencies to train displaced workers as solar energy installation and maintenance technicians.

The program is expected to be funded in part by federal stimulus dollars provided by the American Recovery and Reinvestment Act of 2009.

The Company announced letters of intent with several municipalities in various locations in the United States to install and operate approximately 4 megawatts (MW) of photovoltaic (PV) systems on government buildings.

Management anticipates that the projects will be completed by the second quarter of fiscal 2010.

2009 Year End Financial Results

Revenue for the year ended July 31, 2009 was $3.8 million, compared to $0 revenue for the period ended July 31, 2008.