Massapequa Park, N.Y.-based solar installer Clear Skies Solar (OTC: CSKH) said today it signed a $20 million letter of agreement with Utter Pradesh, India's Power Cube to develop a solar power system in India.
Clear Skies said the deal, subject to financing, would be the first of several solar photovoltaic projects in the country.
"India represents the first of many untapped markets that Clear Skies Solar plans to enter in 2008 and 2009," said Ezra Green, chairman and CEO of Clear Skies.
"Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs."
Clear Skies said the initial project is for the design and construction of a 5 megawatt solar power system that will supply power to support a steel mill and the community's energy grid system.
"Clear Skies Solar has shown that it has the ability and innovative construction techniques to execute this contract, and we look forward to this project beginning in October of 2008," said Mohan Kejriwal, chairman of Power Cube.
Clear Skies plans to provide technology, engineering and construction services on the project, and said it would also be prepared to provide the operation and maintenance services needed.
Kejriwal said the companies expect the solar power plant to be operational before March 2009.
Source - www.cleantech.com
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