EPOD Secures Site Approval for 13 Megawatt Solar Farm Installation in Thunderbay
Reno, Nevada, Nov. 7, 2007
Source: PRIME NEWSWIRE
http://www.primenewswire.com/newsroom/news.html?d=130820
EPOD International Inc. (the “Company,” “EPOD”) (Pink Sheets:EPOI) (Frankfurt:EDU), a Grid-Integrated, eco-power utility and electric power systems provider, has received site approval from the Thunderbay Power Corporation for a 13 Megawatt solar power facility located in the Thunderbay area.
Site approval is a pre-requisite for completion of a power purchase agreement with Hydro One, who has committed to granting solar-based PPAs with a 20 year term at a fixed rate of $0.42 per kilowatt hour of solar electricity produced.
EPOD has also secured the purchase of the relevant property in Thunderbay, Ontario, which it has determined is amenable to the installation of a 13 Megawatt solar farm. EPOD intends to install the solar power facility on this property, with completion of installation scheduled for the end of January, 2009. EPOD estimates that the facility would generate aggregate revenue of approximately $200 million. EPOD plans to continue to secure additional installation sites as part of its overall recurring revenue model.
About EPOD:
EPOD is a Grid-Integrated, eco-power utility and electric power systems provider. The Company’s operations include the engineering and construction of turn-key factories for solar panel production and material handling systems. Additionally, the Company has subsidiaries involved in the manufacturing of inverters, rectifiers, energy management systems, and solar panels.