Clean Energy Pathways to Enter Joint Venture for Development of Two Tennessee Solar Farms
April 14 2011 - 12:22PM
Clean Energy Pathways, Inc. (Pink Sheets:CPWY), an alternative and
renewable energy solutions company, has signed a letter of intent
with H&T Holdings to form a joint venture for development of
two one-megawatt solar farms with an option for two additional
one-megawatt systems after the first two are on line.
The first two projects are estimated to produce $16.5 million in
revenue for the two companies over a 20-year term. The first two
systems will be located approximately 30 miles north of
Chattanooga, Tennessee, on 30-70 acres of land situated for maximum
exposure to sunlight.
"This is an exciting time for our company as our solar
development plans unfold," said J. Michael Parsons, CEO of Clean
Energy Pathways. "This agreement brings us another step closer to
our goal of 50 megawatts of solar electric generation capacity in
2011. From an operational standpoint, this is an excellent plan.
The strategy of grouping one-megawatt systems gives more
flexibility for the grid. It also gets the generating capacity on
line in a shorter amount of time, compared to a single large
project on one piece of real estate."
About Clean Energy Pathways
Clean Energy Pathways, Inc. is a company focused on delivering
multiple solutions to aid businesses and government facilities in
attaining energy independence, reduced costs and a cleaner
environment. These pathways to energy independence include biomass
fuels, solar systems, wind energy, building energy management
systems and other technologies, as well as financing of, and
gain-sharing in, the improvements. For more, see
cleanenergypathways.com
The Clean Energy Pathways, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9449
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks and
uncertainties that could cause future results to differ materially
from the forward-looking statements. You should consider these
factors in evaluating the statements herein, and not rely on such
statements. The forward-looking statements in this release are made
as of the date hereof and Clean Energy Pathways, Inc. undertakes no
obligation to update such statements.
CONTACT: Investor relations:
Equititrend Advisors
1-800-953-3350
Harrison Parrish
866-492-5325
investor@cepathways.com
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