Solar Park Initiatives, a Florida-based solar energy company, has signed a letter of intent (LOI) to develop a solar park in California.

The company has secured 285 acres of land for the design, construction and operation of a 20MW solar park.

Solar Park Initiatives CEO David Surette said that the company continues to search for good opportunities in the solar sector and develop land for its optimal use and value.

"This is one opportunity we anticipate completing, keeping investors abreast of our milestones," Surette said.

Power produced from the solar park is expected to be sold to a local utility.

Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic projects.