TORONTO, Jan. 27, 2015 /PRNewswire/ --Atlantic Wind &
Solar, Inc. (OTC: AWSL) is pleased to update its shareholders
regarding its most advanced projects in its pipeline and
its financial results on operations.
Financial Results:
Sales continued to climb with gross sales for the quarter at
$2,073,468 equating to $5,488,588 for the first 9 months of 2014.
The sales are almost double the same period in 2013.
Profitability continued reporting $971,594 for the first 9 months or $.021 per share - up substantially from the
previous year's losses.
With the completion of more projects in the quarter a
significant percentage of the payables and receivables have now
been settled with more set for Q4 / Q1.
Solar PV Pipeline
Atlantic Solar has continued to develop a number of projects in
Ontario, Canada with 9 projects
connected to the grid and now supplying power to the Ontario Power
Authority. As part of a solar development contract a number
of these projects were purchased and are now owned and operated by
an Ontario municipality.
"There is a very strong demand for completed projects in
Ontario." says Chairman
Gilles Trahan. "There is much less
appetite for the time and work that goes into developing these
projects from scratch. Atlantic continues to see an opportunity in
having a presence in Ontario
coupled with a patient understanding of the process."
South America
Atlantic has signed a Letter of intent to sell its interest
in its 20 MW Lagarto project in South America. Under the
terms of the agreement, Atlantic would earn a one-time developer
fee plus a gross production royalty that would result in over 15
years of cash flow.
Management expects to report similarly positive results and to
move these projects, as well as new ones, forward over the balance
of the year.
About Atlantic Wind and Solar Inc:
Atlantic is a developer of utility scale renewable energy plants
with over 650 MW's of projects at various stages of development in
Canada, South America and the Caribbean.
To read the full report and/or sign up for news alerts and
updates visit the company's web site at:
www.AtlanticWindandSolar.com.
Disclaimer: Shareholders and investors are strongly cautioned
against placing undue reliance on information set forth within this
website and 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 OTCMarkets.com 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. Nothing within this site is meant
to be a solicitation to buy or sell our securities. Investing in
over the counter (OTC) securities often carries a high degree of
risk. Please contact your financial advisor before investing in our
securities.
Atlantic Wind & Solar Inc.
Main: +1-(416)900-0380 ext 321
Toll Free: +1-(800) 891-1657
Email: info@atlanticwindandsolar.com
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SOURCE Atlantic Wind & Solar, Inc