FOR IMMEDIATE RELEASE
Principal Solar Takes Significant Strides to Build World’s First Distributed Solar Utility: Acquires 3.5MW Solar Project in Andover, Mass.
Dallas, TX – September 5, 2012 — Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly traded solar energy holding company executing a unique roll-up strategy to create the world’s first distributed solar utility, today announced the acquisition of a 3.5MW solar project slated for Andover, Mass. from SunGen and R&D Solar. Originally developed by Talmage Solar Engineering, Inc. in Arundel, ME, construction is expected to begin in Q2 2013. The completed solar system will interconnect to National Grid’s substation in Andover, Mass.
“The considerable size and partnership approach to this project exemplify the work we are doing at PSI to build this distributed solar utility,” says R. Michael Martin, executive vice president, Business Development, PSI. “Our partners, R&D and SunGen, have developed an excellent project that we are ready to bring on-line in 2013.”
The Andover project expands the presence of PSI in New England. In 2011, PSI worked with Talmage Solar Engineering, Inc. to acquire two other solar installations: one in Massachusetts and one in Maine.
Kale Inoue, chief financial officer, Talmage Solar Engineering, Inc., says, “We continue to expand our relationship with PSI, and are very excited to build this array. The site is perfect and a solar farm is by far the best use for this land.”
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW), is a publicly traded solar energy holding company executing a unique roll-up strategy to create the world’s first distributed solar utility. PSI concentrates its resources on the acquisition, finance, development and management of solar power companies. The Principal Solar Institute, an educational organization created by Principal Solar, Inc., is dedicated to spreading solar knowledge to the critical stakeholders in the ongoing energy debate. Visit www.PrincipalSolar.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors in the solar energy generating industry (market risk, government regulation, operational risks, etc.) that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The Company does not assume a duty to update these forward-looking statements, except as required by law.
CPR for Principal Solar, Inc.