Atlantic Wind & Solar Adds 6 Commercial Rooftops to Solar Energy Program in Ontario
July 13 2010 - 8:00AM
Marketwired
Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to
announce that it has entered into an agreement with an Ontario
commercial real estate developer which will allow it to develop and
construct 6 additional utility scale solar
(http://atlanticwindandsolar.com/solar.html) photovoltaic (PV)
rooftop projects. The PV projects are expected to generate a
combined power capacity of approximately 780 kW.
Under the agreement, Atlantic Wind & Solar will finance,
build, own, operate, and maintain the solar energy systems hosted
on the roofs of the commercial buildings and the electrical power
generated from the systems will be sold directly into the grid to
the Ontario Power Authority (OPA) (www.powerauthority.on.ca), for
71.3 cents per kilowatt hour for a total of 20 years, under the
terms and conditions of the Ontario government's Feed-in-Tariff
(http://atlanticwindandsolar.com/news-20.html) Program (FIT). The
rooftop solar (http://atlanticwindandsolar.com/solar.html) PV
systems will all be located in the Greater Toronto Area.
Construction is expected to commence following FIT contract
application approval.
Mr. Pierre Cousin, Atlantic's CEO, commented, "Today's update
not only reflects the advancement of another 6 projects, but also
represents a total of 14 utility scale PV projects to have been
quickly advanced into their final pre-construction stages in the
last 5 weeks. FIT contract applications (for 20 year Power Purchase
Agreements) have been submitted to the OPA and await final contract
approval before construction begins."
Mr. Cousin further stated, "With a strong focus on sales
execution, we are also pleased to report that we have increased our
total qualified pipeline by 45% in the last six weeks. In addition,
and complementary to our Canadian operation, we are working on a
significant number of international projects which are expected to
reinforce our global presence moving forward."
AWSL... Poised for Growth
Through focused management, strategic alliances, and advanced
technologies Atlantic Wind & Solar Inc. is poised for growth at
the forefront of the massive global shift towards environmentally
friendly, economical Renewable Energy. The Company is working with
parties in the Real Estate sector in Ontario and abroad to secure
rooftop leases suitable for AWSL's photovoltaic (PV) renewable
energy systems.
Looking Ahead
As powerful new Renewable Energy incentives, such as friendly
tax treatments, grants and generous government feed-in-tariffs, are
introduced in the Americas and abroad, AWSL plans on fully
leveraging its relationships, business model and advanced
technologies to capture a significant share of these dynamic
emerging markets.
Sales and Marketing Contacts
Property owners and managers with unobstructed commercial
rooftops of 20,000 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
(http://atlanticwindandsolar.com/company.html) system inquiries are
asked to phone +1 416 900-0380 or email
info@atlanticwindandsolar.com
For further 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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