EL DORADO HILLS, Calif. - (Business Wire) Premier Power Renewable Energy (OTCBB: PPRW), a global leader in the development, design, engineering and construction of solar power systems for commercial, government and utility markets in the U.S. and Europe, today announced that it has contracted with Soar Energy Partners, LLC to install a 300kW solar photovoltaic system at the CHE Medical Building in Lakewood, NJ. The project will utilize the cylindrical thin film technology developed by Solyndra to maximize the use of both direct sunlight as well as diffused light and reflectivity off the medical building’s white roof. The solar system will save the medical center approximately $84,000 per year in utility costs, while generating approximately $190,000 annually in SREC revenue for Soar Energy Partners, LLC. Approximately 325 tons of greenhouse gases will be avoided in year one by using the solar photovoltaic system. Soar was advised on this transaction by Sunleit Partners, a renewable energy advisory firm. Sunleit and Premier Power are currently collaborating on several other project development opportunities.
Dan Czermak, CEO of Soar Energy Partners, stated, “We are pleased to be working with Premier Power on this important project to help the medical center continue its tradition of leadership in the Lakewood community. With Soar Energy Partners owning and operating the solar system they can take full advantage of the tax and renewable energy credits, while the medical center will be able to obtain electricity at a more affordable price than it would otherwise be able to obtain on its own.”
“We are very pleased that Soar Energy Partners selected Premier Power to develop the system for them,” said Stephen Clevett, Premier Power’s Executive Vice President. “Using solar power to assist the CHE Medical Center fulfill its mission to the community, complements our core mission as a company as well. We are very pleased to work with CHE Medical Center, Soar Energy Partners and Sunleit Partners to set a practical example of affordable, sustainable and clean energy for healthcare facilities nationwide.”
About Premier Power
Premier Power Renewable Energy, Inc. is a leading global provider of large and small-scale solar power systems, delivering unmatched experience to commercial, governmental and residential customers throughout North America and Europe. Premier Power designs, engineers and integrates the solar industry's leading products. Premier Power's technologies and services have enabled its customers to maximize clean energy output along with project savings. Today, Premier Power designs and deploys the most innovative solar electric systems through market-leading innovation and exceptional customer service. Premier Power is headquartered in El Dorado Hills, CA and trades on the OTC Bulletin Board under the symbol PPRW.OB. Additional information is available at the Company's website at www.premierpower.com.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the business of Premier Power Renewable Energy, Inc. ("Premier"), which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to reliance on a limited number of customers, market demand, cyclical nature of our markets, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Premier's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting Premier will be those anticipated by Premier. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Contact:
MKR Group, Inc.
Charles Messman & Todd Kehrli
323-468-2300
pprw@mkr-group.com
