Akeena Aquires Wine Country Solar Company AEI

LOS GATOS, Calif.--(BUSINESS WIRE)--Akeena Solar, Inc. (OTCBB:AKNS) -- one of the largest solar installers in the country -- acquired certain assets of Alternative Energy Inc. (AEI) of Santa Rosa. Under the terms of the agreement, Akeena will assume AEI’s backlog, and commence a marketing campaign to take advantage of the solar power opportunities in Sonoma and Napa Counties.

“This acquisition is another step towards our goal of offering solar power to homes and businesses in target markets with high electricity costs,” said Barry Cinnamon, chief executive officer of Akeena. “Santa Rosa is a compelling market because of the combination of new housing and environmentally conscious residents. This Santa Rosa acquisition provides us with a base of operations in the North Bay and surrounding areas, close to the winery work we do in Napa Valley.”

Santa Rosa is the company’s fifth new location in California in the past year. Since September, Akeena has expanded to Fresno, Orange County, Bakersfield, and Manteca. In addition, the company’s Fairfield, New Jersey office serves the New York metropolitan area, covering eastern Pennsylvania, New York, New Jersey and Connecticut.

According to a recent report by Solarbuzz, California and New Jersey represent 90 percent of the market for solar power in the U.S. The industry is expected to grow at an annual rate of 30 percent over the next four years, driven by a combination of favorable public policy, high electric rates and environmental concerns.

Chris Frye, President of Alternative Energy Inc., said, “As the demand for solar power grows, larger, more efficient companies will have an advantage in the market. We are very happy to be part of a solid company such as Akeena, and look forward to provide better choices for customers in the Santa Rosa area.”

About Akeena Solar, Inc

Founded in 2001, Akeena Solar's (OTCBB:AKNS) philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national integrators of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar's website at www.akeena.net.