TORONTO -- (Marketwire) -- 06/29/10 -- Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to announce that it has entered into an agreement with an Ontario commercial real estate developer, which will allow it to develop and construct four more utility scale, solar rooftop projects. The projects will generate a combined name plate power capacity of approximately 492 kW.
Under the agreement, Atlantic Wind & Solar will finance, build, own, operate, and maintain the solar energy systems hosted on the roofs of the commercial buildings, and the electrical power generated from the systems will be sold directly into the grid to the Ontario Power Authority (OPA) for 71.3 cents per kilowatt hour, for a total of 20 years, under the terms and conditions of the Ontario government's Feed-in Tariff Program (FIT).
The aforementioned rooftop PV systems will all be located in the Greater Toronto Area.
Construction is expected to commence following FIT contract application approval.
AWSL... Poised for Growth
Through focused management, strategic alliances, and advanced technologies, Atlantic Wind & Solar Inc. is poised for growth at the forefront of the massive global shift towards environmentally friendly, economical Renewable Energy. The Company is working with parties in the Real Estate sector in Ontario to secure rooftop leases suitable for AWSL's photovoltaic (PV) renewable energy systems.
As powerful new Renewable Energy incentives, such as friendly tax treatments, grants and generous government feed-in-tariffs, are introduced in the America's and abroad, AWSL plans on fully leveraging its relationships, business model and advanced technologies to capture a significant share of these dynamic emerging markets.
Sales and Marketing Contacts
Property owners and managers with unobstructed commercial rooftops of 20,000 s/f or bigger in the Province of Ontario, Canada, and for which they are interested in possibly leasing to AWSL, are invited to contact Mr. Charles Mazzacato +1 800 891 1657 ext. 230.
All other Renewable Energy system inquiries are asked to phone +1 416 900-0380 or email email@example.com
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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 Securities and Exchange Commission 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
Phone: +1 (416) 900-0380 ext.223