ReGreen Corporation Receives $2 Million Funding for 255 kW Solar PV Installation

LOS ANGELES, Aug. 18 /PRNewswire/ -- ReGreen Corporation, a leading provider of energy services in California, has received $2 million from Nara Bank (Nasdaq: NARA) to begin construction on a 255 kW solar photovoltaic installation at Metro Park Towers on Wilshire in downtown Los Angeles, CA.

Metro Park Towers on Wilshire is a 2-tower commercial office complex located in the mid Wilshire area of downtown Los Angeles.  The buildings, located at 1930 Wilshire Boulevard, have previously completed lighting retrofit projects through ReGreen to reduce their energy usage by 20%.  They are now taking the next step to generate their own energy through solar installations to increase their buildings' efficiency even further.

ReGreen Corporation will provide Metro Park Towers on Wilshire a solar PV installation that promises to provide enough energy to power 15% of the buildings' annual energy use.  Nearly 50% of the project cost will be covered by the LADWP Solar Initiative Rebate Program & Federal 1603 Grant for Solar Energy Program, resulting in an attractive efficient payback and substantial tax incentives.

The panels will be installed on top of carports in the tower parking lot, making it one of the largest urban in-fill solar projects to hit California.

"Solar and energy efficiency upgrades have become the best, new value-add strategy for building owners and managers," said Suraj Bhojwani, Project Manager of ReGreen Corporation.  "With this installation, Metro Medical Towers is turning a level parking lot into a clean energy-producing asset.  It is our hope that this installation sets the precedent for other building owners and managers to consider green alternatives for renewable energy and reducing operational costs."

Installation is scheduled to be completed by the end of October.  For more information on the Metro Park Towers on Wilshire solar installation or other energy services inquiries, contact ReGreen Corporation at (213) 621-7664 or visit them online at http://www.regreencorp.com.

Additional energy efficiency solutions offered by ReGreen include:

• Energy Audits
• Lighting retrofits & upgrades
• Water conservation retrofits & upgrades
• PC Power Management
• HVAC Maintenance
• Solar/PV Installations
• Building Automation Systems

For questions regarding Metro Park Towers on Wilshire, please contact Lorianne Isaacson at (213) 413-1233

SOURCE ReGreen Corporation