TORONTO, May 28, 2015 /PRNewswire/ -- Atlantic Wind & Solar, Inc. (OTC: AWSL) is pleased to announce it has completed construction on a 160 KW utility scale solar project in Canada and announces the launch of a newly formed Yieldco.
The $1.0 million commercial rooftop installation is expected to produce 3,300 megawatt hours of power over the next 20 years supplying Ontario with clean reliable energy. The power will be sold under the province's Feed-In-Tariff program.
Atlantic has received Commercial Operation Notice from Ontario's Independent Electricity System Operator (IESO) - formerly the Ontario Power Authority (OPA).
The solar power plant was developed by our Canadian subsidiary Atlantic Solar Inc.
Atlantic is also pleased to announce the formation of Power 1 Inc. The new wholly owned subsidiary is intended to be the off-taker of Atlantic developed projects.
Power 1 would purchase and hold projects developed by Atlantic and other developers if conditions warrant. The aim is to provide a reliable yield generated from ongoing power sales.
Financing of Power 1 would be direct with no dilution to Atlantic Wind & Solar shareholders. Management is in discussion with potential financiers and advisors and expects to announce more details in the near future.
About Atlantic Wind and Solar Inc:
Atlantic is a developer of utility scale renewable energy plants with over 650 MW's of projects at various stages of development in Canada, South America, South Asia and the Caribbean.
To learn more and/or sign up for news alerts and updates visit the company's web site at: www.AtlanticWindandSolar.com.
Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth within this website and these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the OTCMarkets.com including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Nothing within this site is meant to be a solicitation to buy or sell our securities. Investing in over the counter (OTC) securities often carries a high degree of risk. Please contact your financial advisor before investing in our securities.
Atlantic Wind & Solar Inc.
Main: +1 (416) 900-0380 ext 321
Toll Free: +1 (800) 891-1657
SOURCE Atlantic Wind & Solar, Inc