Message #9 From:
NewsBot Date: April 18, 2008 10:32:35 PM
Clear Skies Solar Signs LOA for $20 Million Solar Energy Deal in India
Clear Skies Solar Signs LOA for $20 Million Solar Energy Deal in India
Five Megawatt Solar Power Facility Marks Company’s
Entrance to International Market
Clear Skies Solar, Inc. (OTCBB:CSKH) today announced a $20 million
agreement, subject to financing, with Power Cube, a company located in
Utter Pradesh, India to develop and construct the first of several solar
energy projects in India.
In this project, which is Clear Skies Solar’s
first step into the international arena, the company will design and
construct a multi-megawatt solar power system that will supply power to
a steel mill and support the community’s
energy grid system, providing much-needed energy on this particular line.
“We recognize that the continued use of fossil
fuels negatively impacts both the economy and the environment,”
said Power Cube Chairman Mohan Kejriwal. “As
such, Power Cube is determined to meet a portion of India’s
energy requirements by developing several large solar photovoltaic
projects (PV Projects) which will generate electricity from sunlight.”
“India represents the first of many untapped
markets that Clear Skies Solar plans to enter in 2008 and 2009,”
said Ezra Green, Chairman and CEO of Clear Skies Solar. “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.”
“While international projects pose special
challenges for solar energy providers, such as identifying proper high
voltage lines and the ownership of the property for the system to be
installed,” added Green. “Our
unique ability to overcome such challenges makes Clear Skies Solar the
natural choice for clients with challenging power needs.”
“Clear Skies Solar has shown that it has the
ability and innovative construction techniques to execute this contract,
and we look forward to this project beginning in October of 2008,”
added Kejriwal. “It is the goal of both
parties to complete the construction of the five megawatt PV Project and
for it to be operational before March of 2009.”
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.
For Clear Skies Solar, Inc. Media Inquiries: Laura Finlayson,
201-488-0049 laura@avalanchepr.com or PR
Financial Marketing Investor Relations: Jim Blackman,
713-256-0369 jim@prfmonline.com
