Principal Solar Takes Significant Strides to Build World’s First Distributed Solar Utility: Acquires 3.5MW Solar Project in...
September 05 2012 - 11:48AM
Business Wire
Principal Solar, Inc (PSI; OTC Pink: PSWW), a
publicly traded solar energy holding company executing a unique
roll-up strategy to create the world's first distributed solar
utility, today announced the acquisition of a 3.5MW solar project
slated for Andover, Mass. from SunGen and R&D Solar. Originally
developed by Talmage Solar Engineering, Inc. in Arundel, ME,
construction is expected to begin in Q2 2013. The completed solar
system will interconnect to National Grid’s substation in Andover,
Mass.
"The considerable size and partnership approach to this project
exemplify the work we are doing at PSI to build this distributed
solar utility,” says R. Michael Martin, executive vice president,
Business Development, PSI. “Our partners, R&D and SunGen, have
developed an excellent project that we are ready to bring on-line
in 2013."
The Andover project expands the presence of PSI in New England.
In 2011, PSI worked with Talmage Solar Engineering, Inc. to acquire
two other solar installations: one in Massachusetts and one in
Maine.
Kale Inoue, chief financial officer, Talmage Solar Engineering,
Inc., says, "We continue to expand our relationship with PSI, and
are very excited to build this array. The site is perfect and a
solar farm is by far the best use for this land.”
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW), is a publicly traded
solar energy holding company executing a unique roll-up strategy to
create the world's first distributed solar utility. PSI
concentrates its resources on the acquisition, finance,
development and management of solar power companies. The Principal
Solar Institute, an educational organization created by Principal
Solar, Inc., is dedicated to spreading solar knowledge to the
critical stakeholders in the ongoing energy debate. Visit
www.PrincipalSolar.com.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors in the solar energy
generating industry (market risk, government regulation,
operational risks, etc.) that could cause the Company's actual
operating results to be materially different from any historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," to be uncertain and
forward-looking. The Company does not assume a duty to update these
forward-looking statements, except as required by law.
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