HENDERSON, NV -- (Marketwire) -- 09/28/12 -- Blue Earth, Inc. (OTCQB: BBLU), a renewable energy and energy efficiency services company, announced today that its wholly owned subsidiary, Xnergy Inc., entered into a development and financing agreement with Greenwood Biosar LLC, a joint venture company between Greenwood Energy and Biosar S.A., to construct six separate solar projects totaling approximately 1 megawatt of DC in California. These 'Sunvalley Projects' consist of six solar PV systems, both ground mount and rooftop, to be installed for private businesses in southern California
The construction of the Sunvalley Projects has already begun. It is expected that they will all be completed no later than the first quarter of 2013.
Greenwood Biosar will support Xnergy in the development of the Sunvalley Projects by supplying PV panels and other balance of plant equipment as well as providing construction financing.
'We are very excited to partner with Blue Earth,' said Camilo Patrignani, Director of Greenwood Biosar. 'The Sun Valley Projects will be just the first of many with Blue Earth and Xnergy.'
'We are delighted to establish a development and funding relationship with parties that have the capacity to develop and fund numerous solar PV projects. We have also agreed to work together on 2MW of our Hawaii solar projects, with the expectation that we will work together on numerous others,' stated D. Jason Davis, CEO of Xnergy, Inc.
Xnergy is a full-service EPC (Engineering, Procurement, Construction) firm, which has engineered, installed, and/or commissioned nearly 100 MW of traditional and alternative energy systems. Xnergy provides a broad range of comprehensive energy solutions, including the design and implementation of energy savings projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply and risk management. Xnergy serves private and public clients from all industries throughout California and helps them minimize their energy consumption and reduce their carbon footprint. For further information, visit www.xnergy.com
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com
About Greenwood Biosar LLC
Greenwood Biosar delivers turnkey installation services for solar projects, both distributed generation and utility-scale in size. Greenwood Biosar focuses on providing the highest quality EPC capabilities to its projects. Greenwood Biosar was created in 2012 through a joint venture between Greenwood Energy, a renewable energy investment firm, and Biosar S.A., an experienced EPC provider of over 200MW of solar installations throughout Europe.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Blue Earth, Inc.
John C. Francis
702.263.1808 Ext. 103
Liviakis Financial Communications, Inc.