• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

WorldWater & Power Achieves Major Milestone in $7.8 Million Solar Electric Project

Posted on: Thursday, 14 July 2005, 09:01 CDT

WorldWater & Power Achieves Major Milestone in $7.8 Million Solar Electric Project Electric Grid Interconnection at California Avocado Ranch

PENNINGTON, N.J., July 14, 2005 (PRIMEZONE) -- WorldWater & Power Corp. (OTCBB:WWAT), maker of proprietary high-power solar systems, today announced that grid reconnection with San Diego Gas & Electric has been secured by Farm ACW of Fallbrook, California for its $7.8 million solar electric project.

The interconnection with the grid, a major condition to commencement of the project, is suitable to provide for the one megawatt photovoltaic system to help power the ranch operations. Construction of the solar energy system will begin immediately following financing arrangements by the owner, expected to be finalized this month. It is anticipated that the project will be completed before the end of this year.

"We believe Farm ACW will be the largest farm operation to be powered by solar systems anywhere in the world, replacing a Megawatt diesel generator now being used for power," said Quentin T. Kelly, Chairman and CEO of WorldWater & Power Corp.

WorldWater & Power currently has nine projects in engineering or pre-construction stages or under construction in California and New Jersey, including two water utilities (Atlantic County Utilities Authority in New Jersey and Idyllwild Water District in California), two California agricultural projects (Cocopah Tree Farm and Farm ACW), and several residential projects (in Rancho Santa Fe, California and in Mercer County, New Jersey. The total of projects signed in 2005 is $12.6 million, compared to total revenues of $5.8 million in 2004.

About WorldWater & Power Corp:

WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at www.worldwater.com.

Forward Looking Statement

Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.

CONTACT: WorldWater & Power Corp. Rose Mary Schwarz 609-818-0700, ext. 33 rschwarz@worldwater.com

Copyright © 2005 PrimeZone Media Network, Inc.

Source: PrimeZone Media Network

More News in this Category