P2 Solar, Inc.
OTC Bulletin Board : PTOS

P2 Solar, Inc.

January 14, 2011 11:17 ET

P2 Solar Prepares to Enter Ontario Solar PV Market

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2011) - P2 Solar, Inc. (the "Company") (OTCBB:PTOS) aims to commission 10MW or more of solar PV projects in Ontario. Over the past few months, management has undertaken a comprehensive study of Ontario's FIT (feed-in-tariff) program to prepare for an entry into this market.

Ontario's tariff levels are very appealing and market entry requires applicants to navigate certain procedural requirements but there are no minimum financial or other criteria that the applicant is required to meet, except normal stage by stage financial closures.

The project approval is subject to site specific conditions such as grid congestion, difficulty of grid connectivity and other factors. Applicants need to undertake careful planning for site selection.

Mr. Raj-Mohinder Gurm CEO of P2 Solar, Inc. said, "Entry into the Ontario solar market will be a very nice compliment to our existing target market India. We have identified a sub-set of potential sites that we believe are good candidates for receiving clearance from Hydro One within a reasonable time-frame."

The company's next step is to engage a real estate consulting firm that is experienced in site selection, development and tie-up under Ontario's FIT program. These consultants will assist P2 in narrowing down a short list of potential sites to two or three based on additional study of the above factors as well as zoning, soil conditions and other factors. Entry into the Ontario market will require significant attention and dedicated focus from management.

"We are endeavouring to bring additional personnel on board in the very near future to assist the existing team with additional expertise to take advantage of this appealing target market," exclaimed Raj-Mohinder Gurm.

Safe Harbor Statement

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the P2 Solar, Inc.'s reports filed with the Securities and Exchange Commission. P2 Solar, Inc. undertakes no duty to update these forward-looking statements.

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