Alternative Energy Partners Establishes Second European Energy Deal

Thursday, 29 July 2010 22:57

0 Comments

To advance its European green energy initiative strategy, Alternative Energy Partners (AEGY) reports that its subsidiary Skynet Energy Systems has entered into an agreement with Suna Energy, Inc. “that will allow Skynet to be part of a minimum guaranteed sale of 20MW energy at local prices starting at $0.42/kwh for an estimated 1600 hours per year.” A Letter of Intent for land acquisition and an environmental engineering report are also underway.

This latest deal is the second European partnership for AEGY, which earlier this month announced that Skynet would obtain Line Reservations to provide energy in Europe, including Bulgaria and other Feed in Tariff countries, which AEGY says will anticipate “a delivery of 19.65 MW of energy to surrounding areas.”

Alternative Energy Partners CEO Gary Reed says, “AEGY feels strongly about the potential for our green energy offerings in the European marketplace. The time is right, and the opportunities are presenting themselves. We look forward to continuing to strategically grow this initiative with an eye on increasing shareholder value while positively affecting the international communities we will be operating in.”

Earlier in July, AEGY announced that Cliff Bream was joining its Board of Directors. A graduate of the United States Naval Academy as well as The Wharton School at University of Pennsylvania, Bream was previously an executive with Epson, Xerox, and Cable & Wireless.

Through its wholly owned subsidiary, Sunarias Corporation (www.sunarias.com), AEGY provides on-site solar-thermal energy systems that allow businesses to reduce energy costs. AEGY’s goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes.