Solarbuzz: "AMSOLAR & GCL Solar Partner to Develop 20MW of Projects"

(Solarbuzz, June 23, 2010) - AMSOLAR Corporation and global renewable energy investor GCL Solar Energy today announced their commitment to develop solar projects at schools throughout the United States together.

Under a Program Agreement signed this month, GCL Solar Energy intends to fund 20 MW of AMSOLAR's solar energy projects, enabling more campuses across the country to be powered by clean, renewable solar power. The parties are actively working with public school districts, as well as private educational institutions throughout the United States. Together, the companies will collectively develop solar power plants under long-term power purchase agreements. This model will allow schools to implement solar energy programs without making an up-front investment themselves.

Amsolar Managing Partner Joshua Weinstein explained, "We created AMSOLAR in an effort to bring more solar power to more educational institutions in the United States. Our growing pipeline of projects and this announcement with GCL speak to AMSOLAR's ability to understand the marketplace and develop customized solutions that resonate with school leaders nationally."

Weinstein continued, "AMSOLAR's strength lies in our ability to help our partner organizations navigate a rapidly-evolving energy market, while ensuring that they capture the economic, environmental and educational benefits of renewable power. We are pleased that our efforts will be supported by the talented team at GCL whose global reach and financial resources are virtually unmatched in the U.S. renewable energy marketplace today."

GCL Solar Chairman Hunter Jiang remarked, "AMSOLAR's pipeline, focus on schools and track record of building relationships with decision makers in this market segment makes the company an ideal partner for GCL Solar. " Chairman Jiang continued, "Our San Francisco-based team looks forward to working hand-in-hand with the AMSOLAR team to fund and operate solar power plants on a long-term basis."

The first project funded under this partnership is a 1.2 Megawatt solar energy system at the University of San Diego, which will break ground later this month.

AMSOLAR's Weinstein concluded, "I am especially pleased that GCL Solar will also be supporting our corporate giving and community action efforts at AMSOLAR GIVING, where we focus on promoting renewable energy awareness, education and exploration in the communities we serve."

http://solarbuzz.com/News/NewsNAPR2087.htm