SOURCE: Atlantic Wind & Solar Inc.

Atlantic Wind & Solar Inc.

December 18, 2009 16:01 ET

AWSL's 47.5% Affiliate HPSC Reports the Sale of a 2 MW Energy Park to Be Installed in Newcastle, Ontario

TORONTO--(Marketwire - December 18, 2009) - Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL) is pleased to report that its 47.5%-owned Canadian affiliate, Hybridyne Power Systems Canada Inc. (HPSC), has sold and will be installing a complete turnkey 2 MW (2000 Kw peak capacity) ground mounted photovoltaic (PV) Energy Park with a projected Cap-ex of approximately $16.8 M. The Energy Park will be located approximately 80 kilometers east of Toronto in Brownsville on the outskirts of Newcastle, Ontario.

The Newcastle Project

The project has been in development by Hybridyne since January 2007. It was one of the fist projects contemplated by any Renewable Energy asset developer in Ontario, and was readily accepted by the local community who, based on the steady stream of enquiries as to progress over the past few years, will be very pleased to hear that it is expected to start construction in Q2 of 2010. At time of completion in late 2010, this will still be one of Canada's larger photovoltaic installations. The 10-acre solar Energy Park will be > 90% Canadian content, and > 50% Ontario content (All Ontarian engineering and construction services) as well as have 8,900 Day4 Energy Canadian PV panels and 8 of Hybridyne's HPE Hyper-Watt 250 XLS (Ontario) inverters. This array will efficiently capture and deliver enough clean energy to power more than 360 (gas heated) homes each year.

Hybridyne's entire product line of advanced PV inverter technology (from the 6 - 10 Kw Micro-FIT and residential sized units, to their large utility scale Pro series 800Kw XLS units) are specifically designed to convert direct current (DC) energy from the Photovoltaic panels into usable alternating current (AC) electricity for the Ontario utility grid. Based on Hybridyne's data this advanced inverter technology provides up to 30 percent more Kilowatt hours per year of clean, renewable electricity when compared with conventional inverter technology. Hybridyne says this is because the inverter starts working earlier in the morning, and stays working later in the day, even working on cloudy days, at very high efficiency. Thorough internal testing, and in situ testing on many client sites over the past 5 years in Ontario have confirmed the outstanding performance of the Company's inverter-converter technology.

Management of Atlantic Wind & Solar Inc. believes this HPSC solar energy project will advance recognition of HPSC's new and exciting CIT technologies that are deemed to have very promising implications for Renewable Energy production anywhere.

About Atlantic Wind & Solar Inc.:

Through focused management, strong R&D, state-of-the-art proprietary technology, exclusive licenses and joint ventures, Atlantic Wind & Solar Inc. is poised for rapid 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 and Property Management sectors in Ontario to secure rooftop leases suitable for AWSL's photovoltaic (PV) renewable energy systems.

Sales and Marketing Contacts

For companies wishing to make Renewable Energy sales enquiries, please call +1 800 891 1657 ext. 230. Property owners and managers with unobstructed commercial rooftops of 30,000 sq. ft. or larger in the Province of Ontario, Canada, and for which they are interested in possibly leasing to AWSL, are invited to call Mr. Geoff Moffat, Cushman & Wakefield Ltd. at 416-359-2534.

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.

For further coporate information and/or to subscribe for regular news updates from Atlantic Wind & Solar, please visit: www.atlanticwindandsolar.com

Contact Information

  • Investor Relations Contact:
    Geneva Bancorp.
    Mr. Brent O'Connor
    +1 647 343-2549
    Email: Email Contact