Blue Earth, Inc. (OTCQB: BBLU) announced today that its wholly owned subsidiary, Xnergy Inc., finalized the completion of two distributive generation ("DG") renewable energy projects utilizing solar PV technology.
Online PR News – 04-March-2013 –The two completed projects include a 90 kilowatt ground-mounted system for Orange Center School District ("OCSD") in Fresno, CA and a 48 kilowatt solar shade structure for Los Altos Foods, a manufacturer of unique cheeses and other food types in the City of Industry, CA. The engineering, procurement and construction ("EPC") value of the contracts is approximately $780,000.
A Blue Earth wholly owned Special Purpose Entity ("SPE") and the OCSD negotiated a 20-year Power Purchase Agreement ("PPA") for the solar power plant that was built next to Orange Center Elementary School. Xnergy performed the EPC services and the SPE owns and operates the solar power plant and is selling the electricity generated to OCSD in the form of kilowatt hours (kWh). The PPA will provide over $600,000 to Blue Earth over the 20-year term of the PPA. The solar power plant will also help reduce the carbon footprint by offsetting 101 metric tons of CO2 over 20 years.
The Los Altos Foods Products solar shade structure has been designed to generate approximately 72,918 kWh of electrical power annually using one hundred sixty five of 295-watt Siliken high efficiency solar panels. The solar PV system will help reduce the facility's carbon footprint by offsetting the equivalent of 1,600 tons of CO2 over 25 years.
"The OCSD project is the first of many projects that are expected to provide recurring revenue through long term PPAs and successful implementation of our strategy to build recurring revenues through ownership of solar power generation plants, in addition to revenues produced as an EPC and Operations & Maintenance service provider," stated D. Jason Davis, CEO of Xnergy Inc.
Xnergy is a full-service EPC (Engineering, Procurement, Construction) firm, which has engineered, installed, and/or commissioned nearly 100 MW of traditional and alternative energy systems. Xnergy provides a broad range of comprehensive energy solutions including the design and implementation of energy savings projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply and risk management. Xnergy serves private and public clients from all industries throughout California and helps them minimize their energy consumption and reduce their carbon footprint.
"The completion of the two solar PV power plants are the first in a series of solar projects that are under construction and with scheduled completion dates during the first two quarters of 2013," stated Johnny R. Thomas, CEO of Blue Earth, Inc.
Pictures of the completed solar PV projects can be seen on both the Blue Earth (www.blueearthinc.com) and Xnergy (www.xnergy.com) web sites.
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.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact:
Blue Earth, Inc.
John C. Francis
702.263.1808 Ext. 103
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