Construction will begin soon, once the shipments arrive later this month, and will be complete by the end of August this year.
The solar power plants operational by the end of the 2012.
Zentric has entered into an agreement to acquire Innovative Solar I and Innovative Solar II, each the owner/developer of separate 800kW solar power plants in Leicester.
The two projects are valued at $4m each will be situated on five acres and will consists around 3,500 solar photovoltaic panels.
Zentric CEO Jeff Mak said, "We anticipate that all the construction and approvals will be completed prior to the end of 2012 at which time we will begin selling our solar energy directly into the power grid."
The purchase will include associated land lease, purchase power agreement and an iterconnection agreement to the power grid.
Innovative Solar I and Innovative Solar II will serve as engineering, procurement and construction contractor and will erect and build each project.
Zentric president William Tien said the company has already awarded a power purchase agreement (PPA) for the project.
"The PPA is a long-term guaranteed contract with the local Power Authority to purchase all of the power we can generate at a minimum pre-determined price. A PPA guarantees a steady stream of payments and in this case for not less than 15 years," said Tien.
