Busiwire
Clear Skies Solar Signs $8 Million Solar Energy Deal in India
Wednesday October 22, 01:00 AM
Clear Skies Solar, Inc. (OTCBB:CSKH) today announced an $8 million USD agreement with Prayag Green Solar Power Private Limited to develop and construct a two megawatt solar power project in Chitrakoot, Uttar Pradesh, India.
By closing this agreement, Clear Skies Solar has demonstrated the company's ability to overcome some of the challenges associated with international projects by solidifying its international financing structure. This has opened a pathway for the company to execute other contracts in the region, including a previously announced $20 million project to design and construct a multi-megawatt solar power system in Uttar Pradesh.
"To ensure our continued growth, we developed an aggressive international expansion plan earlier this year that was designed to take advantage of markets with a solid feed-in tariff structure in order to obtain support for renewable energy from governments in both Europe and Asia," said Ezra Green, Chairman and CEO of Clear Skies Solar. "This strategy is already paying off; in addition to closing agreements for two projects in India, Clear Skies Solar has also recently announced a contract to design and construct a 150kW solar project in Greece - and this is just the first of several projects to be announced in the coming weeks."
Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs. Our world class management team has been expanded to meet the extreme growth we are experiencing.
"International projects have become increasingly important to our growth strategy at Clear Skies Solar," continued Green. "We have structured our international business model in a manner that enables us to move quickly through the various international channels, allowing us to rapidly execute on our contracts. In fact, we expect to begin the engineering phase of this project by the end of the fourth quarter of 2008."
Clear Skies Solar will provide the technology, engineering and construction services needed to create the PV project and will also be prepared to provide the operation and maintenance services needed.
About Clear Skies Solar
Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary, provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, visit www.ClearSkiesSolar.com.
Forward-Looking Statement Disclaimer
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 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 forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
Avalanche Strategic Communications Media Inquiries: Laura Finlayson, 201-488-0049 laura@avalanchepr.com or PR Financial Marketing Investor Relations: Jim Blackman, 713-256-0369 jim@prfmonline.com
Next Article: Yingli Green Energy to Assist Customers with Access to Project Finance Solutions
Previous article: China Energy Recovery Inc. To Present at the Rodman & Renshaw Annual Global Investment Conference
Top Headlines
Gen-i buys regional franchise
Friday November 21, 07:49 PM - NZPA
Telecom subsidiary Gen-i has purchased the Real Time Computing franchise in the Manawatu, Wanganui and Taranaki regions for a .. Read More
Air NZ questions ACCC's decision
Friday November 21, 07:47 PM - NZPA
How come Air New Zealand can't co-operate with Air Canada on flights to Vancouver when Qantas can work with South African Air .. Read More
NZF Group's interim profit falls
Friday November 21, 07:11 PM - NZPA
NZF Group reported net profit after tax of $1.3 million in the six months to September 30, down 47.2 percent on the same .. Read More
Calculators
Copyright © 2009 Yahoo! All rights reserved.
Yahoo!Xtra: A Yahoo!7/Telecom New Zealand Company.