WorldWater & Solar Technologies Announces Update on 1.2 MW Valley Center Contract
Tuesday July 8, 8:02 am ET
EWING, N.J.--(BUSINESS WIRE)--WorldWater & Solar Technologies Corp. (OTC BB: WWAT.OB - News), developer and marketer of proprietary high-power solar systems, today announced that it has concluded all engineering, planning, regulatory, environmental and contractual negotiations with regard to the 1.2 MW project first announced last August for the Valley Center Municipal Water District (VCMWD) of Valley Center, California. Ground-breaking is expected occur in the coming weeks. The system will provide electricity for the district and is being developed by Solar Power Partners of Mill Valley, California, which will operate it under a 25-year Power Purchase Agreement (PPA). The project is worth approximately $7.5 million, with completion scheduled for later this year.
“We are very pleased to announce that the Valley Center Municipal Water District is now ready to move forward on an expedited basis,” stated Frank Smith, CEO of WorldWater. "Having resolved all remaining technical and financial issues, we have come to an agreement that makes sense for all parties involved – one that leverages our expertise in large solar installations and will provide the district with efficient, renewable solar power for decades to come. Our experience with both the Fresno and Denver airports helped refine our approach to this project, and we expect to announce ground-breaking within weeks.” |
