Xnergy to Build 3 MW of Solar PV in Hawaii
Blue Earth Inc. announced today that its wholly owned subsidiary, Xnergy Inc., entered into a binding Memorandum of Understanding (MOU) with a major renewable energy company to construct about 3 MW of solar PV projects in Hawaii. Under the MOU, Xnergy will provide engineering support, procurement for majority of the equipment and complete construction (EPC) services for the approximate 3 megawatts of solar PV projects. The EPC revenue for the company is expected to be approximately $4.5 million.
Procurement and Construction is expected to commence in April and be concluded during the fourth quarter. The parties are concluding final EPC and O&M contracts prior to the start of construction.
“We are delighted to have the opportunity to provide EPC and Operational services for a major renewable energy company. We expect to soon be the largest by MW’s installed in the great State of Hawaii and leverage that into more opportunities,” stated D. Jason Davis, CEO of Xnergy. “Expanding our EPC business activities in Hawaii will be beneficial to the ramp up of construction of our Hawaii solar PV pipeline, including the Waianae project, which is now under construction.”
“Constructing these projects in conjunction with the completing the Sun Valley projects and commencing our first Hawaii projects will continue the rapid ramp up in revenue growth and help the Company achieve revenue as presented in previous presentations,” according to Dr. Johnny Thomas, CEO and President.
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