WorldWater & Solar Technologies Corp. (OTC BB: WWAT.OB), developer and marketer of proprietary high-power solar systems, today announced the Company has been awarded two new solar contracts in California, which include a 783 kilowatt system for the Town of Windsor and a 53 kilowatt system for the Contra Costa Water District (CCWD) of Concord. The systems, valued in aggregate at approximately $5.4 million, showcase WorldWater's experience and commitment to providing quality, reliable solar-powered energy systems and water pumping systems to water municipalities.
For the Town of Windsor, WorldWater will install a ground-mount, single axis tracking solar system; two carports with fixed-tilt solar arrays that provide shaded, covered parking; a roof-mounted solar array constructed on a new storage facility and additional roof-mounted solar arrays on two existing structures. The overall system will be installed at the city's wastewater treatment plant. Construction is expected to begin this summer, with completion scheduled for December 2008. The system will help Windsor achieve approximately 50% of its 2010 Green House Gas Reduction Target Program and also indirectly save the district over $130,000 annually on electricity costs from PG&E. The project is being financed under a Power Purchase Agreement or "PPA."
The Contra Costa Water District will be provided with a fixed-tilt, ground mounted solar array which is expected to offset about 30 percent of the electrical use at the station annually. The system will be installed at the Ygnacio Pumping Station, and construction is expected to begin by the end of May, with completion scheduled for mid-August. This installation is part of the Contra Costa Water District's continuing efforts to reduce carbon emissions and to integrate sustainable, cost-effective energy systems into its infrastructure, creating more value for ratepayers. In 2007, the CCWD was named a "˜Bay Area Green Business.' The project is being financed in part by a state rebate.
"WorldWater is uniquely suited to provide cost-effective, clean energy solutions to major users of water and electricity in all areas where water availability and increasing energy costs are becoming problematic, most certainly in California," says Frank Smith, CEO, WorldWater and Solar Technologies Corp. "Our ability to design and build solar arrays to run on and off-grid motor control applications makes us a prime supplier to the municipal water market, as well as the agricultural, dairy and food processing industries and large municipal clients."
About WorldWater & Solar Technologies
WorldWater & Solar Technologies Corp. is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that can not only generate and distribute electricity, but can drive 1000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at www.worldwater.com.
Forward Looking Statements:
Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.