Atlantic Wind & Solar Advances Rooftop Solar Project in the City of Brampton, Ontario
June 02 2010 - 4:00PM
Marketwired
Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to
announce that it has entered into an option to lease agreement with
an Ontario realty company, on a 45,000 square foot commercial
building located in the City of Brampton, Ontario.
The rooftop will be utilized for one 250kW solar system, to be
installed upon Power Purchase Agreement (PPA) application approval
from the Ontario Power Authority (OPA).
Upon completion of the PV solar energy system, the electricity
generated will be sold directly into the grid to the OPA for 71.3
cents per kilowatt hour under the terms and conditions of the
Ontario government's Feed In Tariff (FIT) program.
Based on the average amount of sunlight in the Province, the
power sold from this single project is expected to generate in
excess of $300,000.00 per year, totaling approximately $6 million
in secured gross revenues for AWSL, and its partners over the next
20 years.
Mr. Brent O'Connor, Geneva Bancorp Investor Relations Director
for AWSL commented: "Today's progress update represents the
advancement of another project from its LOI stage, closer to its
final construction stage. The extensive process had taken several
months to qualify... However, with the recent implementation of the
company's new streamlined commercial rooftop lease execution
process, the company expects to start advancing and reporting
several more similar scale projects from its extensive pipeline in
the near future."
AWSL... Poised for Growth
The acceleration of increased interest, financing, and other
developments in the past few months augurs well for Atlantic Wind
and Solar's business and overall growth in 2010. The Company
intends to further expand in 2010 through strategically targeted
acquisitions and potential expansion to offshore Renewable Energy
markets.
AWSL management is optimistic that the progress achieved over
the past 12-18 months in establishing the Company as a leading
developer in the Ontario Renewable Energy market has positioned
Atlantic Wind and Solar for rapid growth and enhancement of
shareholder value in the foreseeable future.
Sales and Marketing Contacts Property
owners and managers with unobstructed commercial rooftops of 30,000
s/f or bigger in the Province of Ontario, Canada, and for which
they are interested in possibly leasing to AWSL, are invited to
contact Mr. Charles Mazzacato +1 800 891 1657 ext. 230.
All other Renewable Energy system inquiries are asked to phone
+1 416 900-0380 or email info@atlanticwindandsolar.com
For further corporate information and/or to
subscribe for regular news updates from Atlantic Wind & Solar,
please visit: www.atlanticwindandsolar.com
Disclaimer: Shareholders and investors are strongly cautioned
against placing undue reliance on information set forth in these
communications in making any investment decisions concerning our
securities. The matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks are detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission
including the company's Annual Report, Quarterly Reports and other
periodic filings. These forward-looking statements speak only as of
the date hereof. The Company disclaims any intent or obligation to
update these forward-looking statements.
Investor Relations Contact: Geneva Bancorp. Mr. Brent O'Connor
Phone: +1 (416) 900-0380 ext.223 Email: Email Contact
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