GSE Activates Six New Solar Plants in North Carolina
DEERFIELD BEACH, FL, January 15, 2012 – Green States Energy, Inc. (GSE) confirms that it has successfully completed, commissioned, and placed into service six solar PV projects in North Carolina. The projects have a combined total output of 5.2MW and are located in Clay and Cherokee Counties near the borders of North Carolina, Tennessee, and Georgia.
Green States Energy acquired the projects from the original developer, Sunrise Energy Ventures, LLC in an agreement reached in November, 2011. GSE financed the projects using a combination of capital, debt, federal section 1603 cash grant, and proceeds from the sale of certain state and federal tax and depreciation benefits. The projects were constructed by Hunt Electric Corporation.
Green States Energy CEO Stephen Clevett said, “We are extremely pleased to have placed these projects into service, bringing to full fruition the fine work of Sunrise Energy and Hunt Electric. The Clay and Cherokee County areas are a spectacular setting, and we are honored to bring energy projects that are in harmony with their natural beauty. We look forward to being part of these wonderful communities for years to come.”
The projects will provide more than 7 million kilowatt-hours of electricity per year to the community. The power is provided from each project site into the local power grid operated by Blue Ridge Mountain Electric Membership Corporation in conjunction with the Tennessee Valley Authority.
About Green States Energy
Headquartered in Short Hills, New Jersey, Green States Energy, Inc. is an Independent Power Producer (IPP) that acquires, develops, and operates clean electric generating plants the Americas and Europe. The Company currently owns 12 operating solar PV power plants in the U.S. with a total capacity of 20MW, and over 100MW under development, which includes solar PV, biomass, and cogeneration/CHP projects.
Certain statements in this press release are “forward-looking statements" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the Company’s ability to complete additional acquisitions and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this presentation.
Chief Financial Officer
P: (704) 519-6723