Principal Solar Takes Significant Strides to Build World's First Distributed Solar Utility: Acquires 3.5MW Solar Project in Andover, Mass.
Solar project slated for Andover, Mass.
Dallas, TX – September 5, 2012 -- Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly traded solar energy holding company executing a unique roll-up strategy to create the world's first distributed solar utility, today announced the acquisition of a 3.5MW solar project slated for Andover, Mass. from SunGen and R&D Solar. Originally developed by Talmage Solar Engineering, Inc. in Arundel, ME, construction is expected to begin in Q2 2013. The completed solar system will interconnect to National Grid's substation in Andover, Mass.
"The considerable size and partnership approach to this project exemplify the work we are doing at PSI to build this distributed solar utility," says R. Michael Martin, executive vice president, Business Development, PSI. "Our partners, R&D and SunGen, have developed an excellent project that we are ready to bring on-line in 2013."
The Andover project expands the presence of PSI in New England. In 2011, PSI worked with Talmage Solar Engineering, Inc. to acquire two other solar installations: one in Massachusetts and one in Maine.
Kale Inoue, chief financial officer, Talmage Solar Engineering, Inc., says, "We continue to expand our relationship with PSI, and are very excited to build this array. The site is perfect and a solar farm is by far the best use for this land."
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW), is a publicly traded solar energy holding company executing a unique roll-up strategy to create the world's first distributed solar utility. PSI concentrates its resources on the acquisition, finance, development and management of solar power companies. The Principal Solar Institute, an educational organization created by Principal Solar, Inc., is dedicated to spreading solar knowledge to the critical stakeholders in the ongoing energy debate. Visit www.PrincipalSolar.com.