EPOD Announces 100 Kilowatt Solar Install Begins Delivery to Utility
EPOD International Inc announces the Company's 100-kilowatt solar power system installed in Germany has begun producing electricity. The installation may be viewed by visiting the following link: www.epodinc.com/gallery.html
EPOD announces the Company's 100-kilowatt solar power system, previously announced on March 1, has begun generating electric power for sale. EPOD's first commercial-scale solar power installation began today generating renewable energy for sale to the local electric utility under a 20-year power purchase agreement with the German government. The system, installed by EPOD and utilizing EPOD-manufactured solar panels, has an estimated lifespan of 40-plus years. Under the terms of the sale and operating agreement, EPOD retains 49% ownership and management control of the installation and is to receive 49% of all power sales revenue for the lifespan of the installation. The remaining 51% is to be paid to the Company's joint venture and investor partner.
The Company intends to construct, own, and operate many such commercial solar power systems under similar power purchase agreements with local and regional utilities in Germany, and elsewhere in the European Union.
The power purchase agreement is part of a federal government energy program in Germany whereby residential, commercial, and industrial power users are encouraged to utilize renewable energy to reduce, and ultimately eliminate, Germany's dependence on fossil fuel-based and non-renewable power. As both electric power demand and prices continue to increase, it is Management's opinion that demand for EPOD's solar power systems will grow correspondingly.
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