Mass Megawatts Wind Power, Inc. Announces Program for Tax Equity Investors
July 08 2014 - 1:10PM
InvestorsHub NewsWire
WORCESTER, Mass., July 8, 2014
- IHNW - Mass Megawatts Wind Power, Inc. (OTC:
MMMW) today announces the availability of favorable terms for
tax equity investors. During the first six or seven years, a large
majority (typically 95% or more) of taxable income, loss and tax
credits would be allocated to the Tax Equity Investor. After the
six or seven year period, the ownership of the project would flip
to, for example, 95% or more to Mass Megawatts. The future income
may be recognized by Mass Megawatts Investors in stock price
appreciation before the flip occurs.
Mass Megawatts
entered into the $12 billion, US solar power market with the
development of a new solar tracking technology designed to increase
solar energy production by more than 25 percent. The patent
pending, Mass Megawatts ‘Solar Tracking System’ (STS) is designed
to automatically adjust the position of solar panels to receive an
optimal level of direct sunlight throughout the day. Unlike other
solar tracking technologies, the Mass Megawatts STS utilizes a
low-cost structure that adds stability to the overall system while
improving energy production levels.
The STS allows Mass Megawatts to lower
material costs and reduce the number of solar panels needed to
generate the rated capacity. Due to this advantage, Mass Megawatts
can deliver more solar power production at a price similar to
lower-capacity, stationary systems. In many locations, this
improved output translates into a 40% rate of return for the
customer with investment payback occurring in the
4th year.
With its patented,
Solar Tracking System, very little debt ,and less than 45 million
shares issued and outstanding, Mass Megawatts believes it is well
positioned to ramp-up production in the shorter term while
expanding its infrastructure to support mass-production goals in
the longer term.
Product information
and sales inquiries can be made through the company's contact page
at www.massmegawatts.com or phone (508)
751-5432.
This
press release contains forward-looking statements that could be
affected by risks and uncertainties. Among the factors that could
cause actual events to differ materially from those indicated
herein are: the failure of Mass Megawatts Wind Power, also known as
Mass Megawatts Windpower, to achieve or maintain necessary zoning
approvals with respect to the location of its power developments;
the ability to remain competitive; to finance the marketing and
sales of its electricity; general economic conditions; and other
risk factors detailed in periodic reports filed by Mass Megawatts
Wind Power.
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