- Joint Marketing Agreement Positions Company in Greece -
Calgary, Alberta - October 2, 2007 - Sustainable Energy Technologies Ltd. (TSXV: STG), www.sustainableenergy.com today announced that it has agreed with one of Greece's largest developer group of renewable energy projects to jointly market the Company's SUNERGY product line for solar power projects in Greece.
"We are very excited about this first partnership in Greece," said Michael Carten, President and CEO of the Company. "Our partner group has been developing renewable power projects in Greece for more than 20 years and they have the experience and scale needed to gain a significant share of the Greek solar market for the SUNERGYTM inverter."
Greece has recently implemented very attractive incentives for solar power systems and the Government is targeting more than 800 MW of new solar installations. Premium pricing for solar electricity ranges from 40 eurocents per kWh to 50 eurocents per kWh, depending on the size and location of the project. In addition, projects are entitled to capital grants equal to 40% of the total cost of installation leading to a very rapid investment payback.
About Sustainable Energy: Based in Calgary Alberta, Sustainable Energy
(www.sustainableenergy.com) designs, manufactures and markets power inverters for the renewable energy industry. Sustainable's SUNERGY(TM) inverter delivers performance and safety advantages for grid-connected solar power plants that are not possible with conventional inverter technologies. These include (i) enabling solar modules to be arranged in parallel, thereby improving total system yields and reducing the system's exposure to individual module performance (ii) continuous full power output throughout the day enabling solar arrays to operate at full power in temperatures above 500C (1200F); and (iii) the inherent safety of the industry's lowest voltage operating range
The SUNERGY(TM) patented approach is also particularly well suited to emerging thin film and solar concentrator technologies.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.
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