Atlantic Wind & Solar Receives First Round of Government Contracts; Prepares for Construction
June 09 2011 - 7:30AM
Marketwired
Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to
report that the Ontario Power Authority (OPA) has formally approved
three of its initial Capacity Allocation Exempt (CAE) Power
Purchase Agreement (PPA) applications, permitting the advancement
of its first Ontario-based, rooftop solar energy parks.
Representing approximately $13 million in secured gross revenues
for the Company and its financial partners, these first three,
fully processed, wholly owned, Feed In Tariff (FIT) contracts are
the first of approximately 150 large, utility scale, rooftop solar
energy projects the Company has been working on over the past two
years.
Atlantic Wind & Solar CEO, Mr. Gilles Trahan, comments, "We
have waited a long time by the side of our patient shareholders and
channel partners for these initial contracts to be processed. They
represent a long chain of coming progress for AWSL and its
stakeholders... progress that will help elevate the Company to new
levels of future success."
The Company is in the process of completing final engineering
and procurement for each of the projects and looks forward to
announcing construction commencement dates in the near future.
All three projects are expected to be completed in 2011.
For more information about Atlantic, please view the Company's 3
minute video introduction at:
http://www.youtube.com/watch?v=dL1elhDVwHY
Disclaimer: Shareholders and investors are strongly cautioned
against placing undue reliance on information set forth in these
communications in making any investment decisions concerning our
securities. The matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks are detailed from time to time in the Company's
periodic reports filed with the OTCMarkets.com including the
company's Annual Report, Quarterly Reports and other periodic
filings. These forward-looking statements speak only as of the date
hereof. The Company disclaims any intent or obligation to update
these forward-looking statements.
Investor Relations Contact: Mr. Brent O'Connor +1 416-900-0380
ext. 223 Email Contact
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