Letter of Intent for 5MW in India
March 03 2009 - 2:07AM
UK Regulatory
TIDMSIT
RNS Number : 1908O
Solar Integrated Technologies Inc
03 March 2009
SOLAR INTEGRATED TAPPED FOR 5 MW PROJECT IN INDIA BY
SAHARA INDIA POWER
- LETTER OF INTENT LAYS GROUNDWORK FOR ENTRY INTO INDIA -
London, UK and Los Angeles, California, March 3, 2009 - Solar Integrated
Technologies, Inc. (AIM:SIT.LN), a leading provider of building integrated
photovoltaic (BIPV) roofing systems, today announces, following recent
statements by Sahara India Power Corporation Limited and related media coverage,
that it has entered into a letter of intent to supply a 5 MW grid-connected
solar photovoltaic power plant and related design services to Sahara India
Power. Sahara India Power's parent company, Sahara Group, is expected to become
the largest consumer of power in the private sector in India. Although no
assurances can be provided, definitive legal documentation is expected to occur
in the first half of 2009, with project ground breaking expected to occur later
this year.
The 5 MW power plant, planned to be located at Dhenkanal in Orissa, is expected
to be ground mounted using Solar Integrated's "M" product line, which was
originally introduced in July 2008 and designed specifically for metal mounting
applications.
"Our innovative solutions are finding appeal globally. This 5 MW opportunity
would be our initial project with Sahara India Power, our first project in
India, and our largest single installation to date," stated R. Randall MacEwen,
President & CEO of Solar Integrated. "We are excited to partner with a quality
company such as Sahara India Power on their first solar power plant."
About Solar Integrated:
Solar Integrated Technologies, Inc. (SIT: AIM.LN) is a Los Angeles-based company
that manufactures, designs and installs building integrated photovoltaic (BIPV)
roofing systems for commercial rooftops. Our BIPV roofing systems enable our
customers to transform a rooftop into a value-generating asset. Our customers
include Audi, Carrefour, Coca-Cola Enterprises, Frito-Lay, Honeywell, IKEA,
Johnson Controls, Metro, ProLogis, San Diego Unified School District, Tesco,
Toyota, Unibail-Rodamco, U.S. Air Force, U.S. GSA, U.S. Marine Corps, U.S. Navy
and Westfield. For more information, please visit www.solarintegrated.com.
For more information, please contact:
Solar Integrated Investor Contacts:
+----------------------------------------+----------------------------------------+
| Solar Integrated Technologies, Inc | Solar Integrated Technologies, Inc |
| R. Randall MacEwen | Jim Balas |
| President & Chief Executive Officer | Chief Financial Officer |
| Los Angeles, California, USA | Los Angeles, California, USA |
| +1.562.299.0136 | +1.562.299.0119 |
+----------------------------------------+----------------------------------------+
| | |
+----------------------------------------+----------------------------------------+
| Nomura Code Securities Limited | Mirabaud Securities Limited |
| Nominated Adviser and Joint-Broker | Joint-Broker |
| Juliet Thompson or Chris Golden | Peter Krens or Kim Richardson |
| +44.20.7776.1200 | +44.20.7878.3362 |
+----------------------------------------+----------------------------------------+
| | |
+----------------------------------------+----------------------------------------+
Solar Integrated Media Contacts:
Pelham Public Relations
Chelsea Hayes / Robert Koh
London, UK
+44 207 743 6675
Thinking Integrated. Building Integrated.
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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