Blue Earth and Biosar Sign Agreement to Jointly Develop and Pursue Utility Scale Solar PV Projects
The two parties have been working together on project proposals for 10 to 100 MW solar PV projects, prior to the signing of the agreement.
HENDERSON, Nev., March 29, 2012 -- Blue Earth, Inc.
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signed an agreement with Biosar Energy SA ("Biosar") in connection with
their recent collaboration to jointly develop and pursue utility scale solar
PV projects in the United States. Biosar has an impressive history of
successful solar PV project development in Europe as of 350MW EPC awarded
contracts. Jointly collaborating on projects with BBLU through Xnergy, is
expected to allow Biosar to enter the U.S.
solar PV markets rapidly and efficiently. BBLU is expected to provide
licenses, permitting, design and construction expertise that complements
Biosar's equipment procurement and large-scale project execution expertise.
The two parties have been working together on project proposals for 10 to
100 MW solar PV projects, prior to the signing of the agreement.
Biosar is a wholly owned subsidiary of ELLAKTOR, listed on the Athens Stock
Exchange, that specializes in the engineering, procurement and construction
(EPC) of utility scale solar PV projects MW size. Xnergy, a BBLU subsidiary,
has about 100 MW of alternative energy interconnect experience in
California, where the initial projects being developed are located.
According to Dr. Johnny R. Thomas, CEO and President of BBLU, "This
agreement is expected to lead to significant revenue generation as the
Xnergy portion of the revenue stream from typical utility scale projects is
expected to be $5 to $50 million. The experience and relationships gained
working with Biosar is expected to facilitate future development and
implementation of the utility scale solar PV projects in the Xnergy project
pipeline."
About BBLU
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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