SOURCE: Grid Cloud Solutions

May 26, 2011 09:13 ET

Grid Cloud Solutions Announces Option to Purchase 10 mW Ground Mount Solar Project

TORONTO--(Marketwire - May 26, 2011) - Grid Cloud Solutions Inc. (PINKSHEETS: GRDC) announced today that it has entered into an exclusive Option Agreement to to acquire a 10 megawatt ground mounted photovoltaic solar project from a London, Ontario renewable energy developer.

Located in Ontario, the 100 acre site/project was recently awarded a Power Purchase Agreement (PPA) from the Ontario Power Authority (OPA), under the terms and conditions of the province's Feed-In-Tariff program.

Under the terms of the agreement, and upon completion of due diligence, Grid Cloud will finance the construction of the project, and own the asset. The energy will be sold to the OPA for the next twenty years, at a secured rate of 42.3 cents per kilowatt hour for topline revenues in excess of $150 M over the life of the project.

About Grid Cloud Solutions:
Grid Cloud was formed as a service company to support the renewable energy sector by providing a variety of business and technological solutions including: financing, business development, security and monitoring services. The company offers these services to the wind, solar, modern biomass, geothermal, hydroelectricity and biofuel industries. The Company's business plan is tailored after the business models developed by service providers in the petroleum industry who are focused on providing solutions to complex problems as they emerge.

For more information and/or to subscribe for regular news updates from Grid Cloud Solutions, please visit: www.gridcs.com

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 OTCMarkets.com 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.

Contact Information

  • Investor Relations Contact:
    Grid Cloud Solutions
    email Email Contact
    tel. 1 954 707-3043