Blue Earth Inc.(OTC: BBLU) Recent company announcements have provided insight as to the positive direction and track BBLU is on.
Online PR News – 14-August-2012 – Boca Raton Florida – Having acquired the exclusive rights to construct seven different solar PV projects totaling approximately 3.5 megawatts DC in Hawaii, valued at approximately $15 million advances Blue Earth's presence in Hawaii.
The projects are located on the island of Oahu and are primarily ground mount solar systems. Six projects acquired by BBLU meet the requirements of the Renewable Energy Tier 2 Feed-in Tariff ("FIT") offered by Hawaiian Electric Company ("HECO"). Two projects are expected to begin in the third quarter of 2012 and are expected to be completed no later than the fourth quarter of 2012. Five projects are expected to begin in the fourth quarter of 2012 and are expected to be completed in the first quarter of 2013.
Hawaii has the largest Renewable Portfolio Standard in the US, requiring 40% of the state's energy be supplied by renewable energy by 2030. HECO's Feed-In-Tariff ("FIT") program is designed to encourage the addition of more renewable energy projects in Hawaii. Pre-established FIT rates and standardized FIT contract terms facilitate the process of selling renewable energy to HECO.
"These projects highlight Blue Earth's commitment to advance our presence in Hawaii and become a leader in the development of solar PV systems that help protect the local environment from harmful emissions," stated D. Jason Davis, CEO of Xnergy, Inc.
Blue Earth also announced that it acquired the rights to construct a 497 kilowatt solar PV project in Hawaii. The project is valued at approximately $2 million and consists of a solar PV system mounted on the ground. The project has a fully executed power purchase agreement ("PPA") with Hawaiian Electric Company ("HECO"). This news and prior announcement of the 497 kilowatt solar PV project represents growth into other markets and shows the kind of success that Blue Earth will enjoy by implementing expansion plans into key renewable energy markets.
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
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