SOURCE: IO News Wire

IO News Wire

February 25, 2010 04:00 ET

(OTCBB: GELV) to Acquire One of Vermont's Leading Solar Installers

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - February 25, 2010) -  Green Energy Live, Inc. (OTCBB: GELV) announced yesterday that it has signed a letter of intent to acquire Peck Electric of Vermont, a leader in Solar Energy Installations and electrical contracting.

Vermont enacted the Vermont Clean Energy Development Fund (CEDF) in 2007 and it is scheduled to run clean renewable energy funding through 2012. The overall goal is to increase renewable energy and economic development of renewable energy companies in the state. With Peck Electric being brought under Green Energy Live's umbrella, the company is better positioned to receive benefit from the CEDF.

As costs of photovoltaic equipment continue to drop, solar energy demand has surged on average of 23% annually over the last 20 years, with an expected 30% increase over the next 3 years.

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Other active stocks are Micron Technology Inc. (NASDAQ: MU), Applied Materials Inc. (NASDAQ: AMAT) and General Electric Co. (NYSE: GE).

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