WorldWater & Solar Technologies Corp. (WWAT.OB, OTC BB), developer and marketer of proprietary high-power solar systems, announced that the Company has received a Letter of Intent (LOI) from Solar Dynamic Energy Ltd. (SDE) Of Milan and London to construct solar sites totaling 3.25 MW in Southern Italy. SDE will work with La Esco del Sole, a solar marketing and installation company that is one of the oldest solar companies in Italy with 25 years of experience.
The LOI is subject only to contractual negotiations. WorldWater & Solar will engage SDE as its solar marketer in Italy. All projects are scheduled to begin construction in the second quarter of 2008. The new LOI reflects WorldWater’s market strides in Europe following on the 3 MW project with Ingenium Energética S.L. of Barcelona, announced on Dec. 13, and the 10 MW project with M&G Promociones de Vivienda Urbana S.A. of Madrid.
The solar projects for SDE and M&G Promociones will use the WorldWater-ENTECH 20x Concentrator Technology and modules, and are planned to be implemented as soon as the ENTECH modules are manufactured by WorldWater, with volume delivery expected in the Spring of 2008. The Ingenium project in Spain will use single access flat plate modules.
Quentin T. Kelly, Chairman and CEO of WorldWater & Solar Technologies stated, “This new project is part of WorldWater’s aggressive push for a large market share in the rapidly expanding solar business in Europe – Spain, Italy and beyond. We intend to take full advantage of our ENTECH competitive pricing advantages and efficiencies throughout the Mediterranean countries, where the sunny climates are particularly responsive to our 20x concentrator technology.”
About WorldWater & Solar Technologies Corp.:
WorldWater & Solar Technologies Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that can not only generate and distribute electricity, but can drive 1000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at www.worldwater.com.