P2 Solar, Inc.
OTC Bulletin Board : PTOS

P2 Solar, Inc.

July 12, 2011 12:45 ET

P2 Solar Signs 76.5 Million Dollar Solar Project in Bulgaria

SURREY, BRITISH COLUMBIA--(Marketwire - July 12, 2011) - P2 Solar, Inc. (the "Company") (OTCBB:PTOS) is pleased to announce that it has executed an option agreement to develop a 7.3 Mega Watt solar power farm with a 20 year gross revenue of 76.5 Million USD. The shovel ready project is located in south-western Bulgaria near the Greek border and has land secured, all required permits are in place and a 20 year government Power Purchase Agreement (PPA), is signed.

The company recently appointed a Bulgarian consultant who has been working with management to identify potential solar projects. The company has had a team working in Bulgaria for the months of June and July reviewing numerous opportunities and is now performing due diligence and technical analysis on the 7.3MW project site. The project is slated to be constructed on a 35+ acre parcel of land perfectly suited for a PV solar farm.

Mr. Raj-Mohinder Gurm, CEO of P2 Solar, Inc., said, "We are excited with this 7.3 MW solar project and will be performing due diligence with our engineering team and legal counsel during the next three weeks in order to finalize the project details. Our team has been working hard to secure projects in line with our company mandate and Bulgaria should become a big part of that with its enormous potential for solar power development."

Solar in Bulgaria:

Bulgaria has emerged as one of Europe's most lucrative solar energy markets because of the country's strong solar irradiation and government feed-in-tariff program. Developers are seeking new opportunities in central and south-eastern Europe after Spain and Germany, the global industry leaders in photovoltaics (PV), have cut or plan to curtail incentives.

P2 Solar Mandate:

The Company has been building its management team in an effort to take advantage of opportunities in the emerging solar industry worldwide. P2's management has laid out a three phase program from 2011 to 2013 with an aggressive mandate to develop 100 MW of sustainable, renewable PV solar power capacity by the end of 2013.

The Company's areas of focus are the regions of India, Europe and Canada and the company is currently working to identify and execute potential PV solar projects in these regions. For more information, please visit http://www.p2solar.com.

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 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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