Contact Information: For additional information about HEG and the Community Solar Program contact: Woody Beardsley or Ted Ramsey 303-495-2216 www.hybridenergygroup.com Hybrid Energy Group, LLC 1615 California Street, Suite 613 Denver, Colorado 80202
Hybrid Energy Group Honored by President Obama's Visit to Its Solar Array
Stimulus Package Signing Ceremony Took Place at Hybrid's Array on the Roof of the Denver Museum of Nature and Science; Stimulus Bodes Well for Renewable Investors
| Source: Hybrid Energy Group, LLC
DENVER, CO--(Marketwire - February 19, 2009) - Amid the hoopla at Tuesday's President Barack
Obama's visit to Denver for the signing of the $787 billion American
Recovery and Reinvestment Act, a Colorado renewable energy investment firm
took pride in a job well done.
Denver-based Hybrid Energy Group (HEG) is the owner and operator of the
solar array on the roof of the Denver Museum of Nature and Science, which
President Obama and Vice President Joe Biden toured Tuesday during the
bill-signing ceremony.
"It was a spectacular event for Colorado and the renewable energy industry,
and we are pleased that our solar array was the backdrop to this important
moment in history," said HEG President, Woody Beardsley. "The stimulus
package will double the amount of renewable energy produced over the next
three years and that bodes well for clean energy projects across America."
The $720,000 museum array includes 465 solar panels generating 134,500
kilowatt hours of electricity on average -- enough to power 30-35 homes.
Under the terms of a twenty-year agreement, Hybrid Energy Group owns and
operates the photovoltaic array, selling the solar electricity it generates
to the museum. Namaste Solar was the installer on the project.
"We structured the development and ownership of the array so that an
investment in solar energy was much more attractive to the museum," said
Beardsley. "By working with HEG, the museum was able to acquire renewable
energy for less than if it had purchased the array on its own."
The Museum solar project is the first in a broader Community Solar Program
HEG is unveiling to provide solar power to non-profit institutions and
governmental entities. "Our business model is designed specifically to
benefit community institutions like museums, schools, and hospitals," said
Ted Ramsey, HEG's Director of Energy Services. "These are community
entities that are naturally committed to the President's long-term vision
of health and sustainability, so we've designed our projects to pass as
much value as possible through to them as system hosts."
The company is pleased to be achieving success during the economic downturn
and recently closed a second financing round. "We're bullish on
renewables," said Beardsley. "From what we can tell of the Stimulus Bill,
more people are going to be in a position to take advantage of solar
investment opportunities than were yesterday at this time."
About Hybrid Energy
Founded in 2005 to facilitate investment in renewable energy resources,
Hybrid Energy Group is in the process of expanding their Community Solar
Program for commercial, governmental, and non-profit entities and expects
to develop an additional Megawatt (1mW) of solar power by the end of 2009.
For additional information about HEG and the Community Solar Program
contact, Woody Beardsley or Ted Ramsey at 303-495-2216 or visit
www.hybridenergygroup.com