Clean Energy Pathways Signs Agreement to Develop $28 Million Solar Power Plant in North Carolina
April 11 2011 - 10:07AM
Clean Energy Pathways, Inc. (Pink Sheets:CPWY), an alternative and
renewable energy solutions company, has signed a joint venture
agreement with Green Mountain Properties to develop a $28 million
solar power plant in Green Mountain, NC. Under the agreement, Green
Mountain will provide 40 acres of land for the facility. Clean
Energy Pathways will be lead developer, engaging ESA Renewables,
LLC as co-developer to provide a turnkey solution to have the
project operational within four to six weeks of breaking ground.
Clean Energy Pathways will own the plant, which is expected to
generate approximately $5.7 million in revenue for the company
within the first year. Company CEO J. Michael Parsons says this is
the start of a series of such projects that will be a significant
part of the company's future. "This first solar power development
is the beginning of a pipeline of such projects we have planned for
2011," said Parsons.
ESA Renewables has an extensive track record of fast-track
development and management of solar power projects. Based in
Florida, the company has developed over 400 solar power facilities
in the last two years. Jeff Burkett, CEO of ESA Renewables, said
that the initial Green Mountain development can be completed very
quickly. "ESA employs a technique that allows us to build a 4
megawatt solar power facility in fewer than 8 weeks after we have
received permits," said Burkett.
About Clean Energy Pathways
Clean Energy Pathways, Inc. is a company focused on delivering
multiple solutions to aid businesses and government facilities in
attaining energy independence, reduced costs and a cleaner
environment. These pathways to energy independence include biomass
fuels, solar systems, wind energy, building energy management
systems and other technologies, as well as financing of, and
gain-sharing in, the improvements. For more, see
cleanenergypathways.com.
About ESA Renewables
ESA Renewables, LLC is a turnkey solar power engineering company
located in Lake Mary, Florida. ESA has global exposure in the solar
industry with 375 worldwide generating facilities. ESA's expertise
consists of designing, fabricating and maintaining solar
photovoltaic electric systems. For more information about ESA
Renewables, LLC, visit esarenewables.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to risks and
uncertainties that could cause future results to differ materially
from the forward-looking statements. You should consider these
factors in evaluating the statements herein, and not rely on such
statements. The forward-looking statements in this release are made
as of the date hereof and Clean Energy Pathways, Inc. undertakes no
obligation to update such statements.
CONTACT: Investor Relations contact:
Equititrend Advisors
1-800-953-3350
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