Legend Enters Solar Panel Business

December 15, 2005 by Jeff Shepard

Legend Investment Corp. has successfully completed its first alternative-energy transaction. The company's new solar energy division has purchased and subsequently resold $366,930 worth of solar panels.

This first transaction is part of a larger overall agreement for further supply. The solar panels were purchased from a supplier based in the United States and resold through Legend Investment Corp. affiliates overseas.

Peter Klamka, the President of Legend Investment, commented, "We are very pleased at the speed and size of our first transaction in the solar power arena, and the company expects that we will see additional orders and deals flow in the next few quarters. The recent announcement from BP, Britain's largest oil company, that it expects to invest $8 billion into alternative energy over the next 10 years shows that increased energy prices and global instability are making alternative energy solutions much more attractive to both large networks all the way to the local household consumer. The continued price decline in products such as solar roofing panels make this an attractive alternative for the energy-conscious consumer."

In addition to acting as a solar panel supplier, Legend Investment also anticipates working with its new European partner to acquire alternative energy companies.