SOURCE: Blue Earth, Inc.

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November 17, 2014 09:15 ET

Blue Earth Annouces Letter of Agreement to Purchase 273MW's of Solar and Wind Projects in Mexico Subject to Completion of Due Diligence

HENDERSON, NV--(Marketwired - November 17, 2014) - Blue Earth, Inc. (NASDAQ: BBLU) an alternative/renewable energy and energy efficiency services company, announced it has signed a letter of agreement that provides the Company the exclusive rights to acquire six projects totaling 273 MW's, that are in various stages of development. Four of the projects are utility scale solar projects (totaling 105MW's) and two are utility scale wind projects (168MW's). If the transaction closes, following the due diligence period, the Company will issue shares of stock for the acquisition of the projects and enter into a project development agreement for $2.5 million in cash with the current owner and developer of the projects to perform certain development services to reach Notice to Proceed (NTP), which means pre-construction tasks are completed.

The Company has approximately two months, unless extended, to perform due diligence on all aspects of the projects, including but not limited to site control, power purchase agreements, permitting, project construction costs and timelines, identification of strategic partners and closing of the transaction. All significant purchase terms have been agreed upon.

"We are very excited about the possibility of moving forward on these utility scale projects and expanding into the Mexican market, which has implemented regulatory measures that will facilitate and subsequently increase renewable power generation in the country," stated Ruben Fontes, President of Blue Earth Solar, Inc.

Johnny Thomas, CEO of Blue Earth Inc., stated the following. "Since appointing Mr. Ruben Fontes as President of Blue Earth Solar, one of our corporate goals has been to move from small solar projects to utility scale renewable projects. We are pleased with the opportunity that this letter of agreement provides for the Company to own and develop larger solar and wind projects."

About BBLU

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.

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 risks, 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, including the Company's Form 10-Ks, Form 10-Qs, Form 8-Ks and other filings. 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.

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