Updated: Jun 6, 2019
HENDERSON, NV, May 29, 2013 (Marketwired via COMTEX) -- Blue Earth, Inc. (otcqb:BBLU) a renewable energy and energy efficiency services company, announced today that its wholly owned subsidiary, Xnergy Inc. signed two agreements totaling approximately 4 megawatts with National Energy Partners, LLC ("NEP") for the sole purpose of building and providing operational services for custom solar PV rooftop power systems for 24 schools in Hawaii. Nine of the schools are located on the Island of Oahu and 15 of the schools are located on the Island of Kauai, which constitutes the majority of the Kauai Complex Area School System.
The announcement is a follow up to our March 26, 2013 news release stating the agreement for 3 megawatts on 15 schools for approximately $4.5 million in EPC revenue. The parties subsequently contracted for another 1 megawatt with the addition of 9 more schools.
NEP will provide the construction financing for the projects. The projects are expected to begin construction during the second quarter of 2013 and are targeted for completion during the fourth quarter of 2013.
National Energy Partners (NEP) is a renewable energy company based in Mount Laurel, NJ. Renewable energy based businesses are among the fastest growing sectors of our economy. Specializing in the development of photovoltaic solar electrical systems, NEP works with leading companies in their pursuit towards a greener society.
"NEP is proud to be working together with Hawaii Pacific Solar as well as Xnergy for this portfolio of projects for the Hawaii Department of Education. We are eager to help provide the schools with an abundance of clean, renewable electricity using the power of the Hawaiian sun."
stated Louis Sabec, Managing Member at National Energy Partners.
Xnergy is a full-service EPC (Engineering, Procurement, Construction) firm, which has engineered, installed, and/or commissioned over 100 MW of alternative energy systems. Xnergy provides a broad range of comprehensive energy solutions including the design and implementation of energy savings projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply and risk management. Xnergy serves private and public clients from all industries throughout the western United States, including Hawaii, and helps them minimize their energy consumption and reduce their carbon footprint.
"We are excited about this relationship with NEP," stated D. Jason Davis, CEO of Xnergy, Inc.
"NEP is recognized nationally as a leading renewable energy developer with a strong track record in enabling public and private entities to meet their economic and environmental objectives. Providing our services to NEP represents an important strategic development and we look forward to working with NEP on other solar PV projects."
NEP believes that the future energy demands must be met with minimal liability on the nation's economy, and less impact on the environment. That's why NEP is committed to help clients realize the benefits and savings of clean energy while reducing high up-front capital investment. The company develops, finances, manages and operates solar projects either through distributed energy or solar farm systems.
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact: Blue Earth, Inc. John C. Francis www.blueearthinc.com 702.263.1808 Ext. 103 firstname.lastname@example.org Liviakis Financial Communications, Inc. Michael Bayes www.liviakis.com 415.389.4670 Michael@Liviakis.com
About National Energy Partners:
National Energy Partners (NEP) is a solar energy development company dedicated to bringing clean, renewable energy to businesses and residential consumers alike. At the forefront of the solar energy landscape, our passion is in fostering relationships through integrity, knowledge and efficiency. NEP embraces the specific needs and challenges of each project, offering our valued clients the best experience through strategic management, trusted relationships and eco-friendly solar energy solutions.
With over 10 years of experience in the solar industry, our portfolio includes over $100 million of projects with more in development.