September 24, 2009 08:00 AM Eastern Daylight Time
GWS Technologies, Inc. Launches Arizona Solar Power Initiative
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GWS Technologies, Inc. (OTCBB: GWSC), an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today announced that it has launched an initiative to install solar energy systems in Arizona schools and other state and federal government facilities and has submitted its initial turn-key solar installation proposals. The initiative follows the Arizona Corporation Commission’s recent authorization for the Scottsdale Unified School District to enter into power-purchase agreements for solar systems on two high schools in which the school district will pay a private company for the power.
The decision is seen as allowing schools and other government facilities to benefit from incentives offered by utilities since they are not eligible for federal tax credits. Last month, the Commission approved a utility request for $143 million in extra incentives for commercial systems, including schools, bringing the total amount to roughly $220 million that the utility could pay out over the lifetime of the solar installations.
“This is another in a series of rulings by Arizona courts and regulators that will promote more renewable energy development in the state,” said GWS President Richard Reincke. “We believe this action by the Arizona Corporation Commission opens the way for commercial-scale installation of solar power on government facilities throughout Arizona and we are aggressively pursuing these new opportunities.”
In allowing the contracts with the two high schools, the Commission put off the larger question of whether companies that offer power-purchase agreements for systems on schools and government buildings should be regulated as utilities.
About GWS Technologies, Inc.
GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new micro-generation movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona. Website: www.greenwindsolar.com.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
Contacts
For GWS Technologies, Inc.
Stuart T. Smith, 512-267-2430
Fax: 512-267-2530
SSmith@SmallCapVoice.com
www.SmallCapVoice.com
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