Clear Skies Solar To Open Office In Greece

NEW YORK & LARISSA, Greece--(BUSINESS WIRE)--Clear Skies Solar, Inc. (OTCBB:CSKH), a leading developer and provider of solar power solutions, today announced the establishment of a corporate office in the city of Larissa, in Central Greece. Partnering with Larissa-based Aspen Energy, whose focus is the procurement of solar energy business opportunities throughout Greece, Clear Skies Solar (CSS) will serve as Aspen’s exclusive supplier of renewable energy technology and installation.

“We are extremely enthusiastic about entering a country that represents one of the fastest-growing markets for solar energy,” said Clear Skies Solar Chairman and CEO Ezra Green. “In teaming up with Aspen Energy, a locally based company, and combining our industry expertise with Aspen’s extensive knowledge of the country’s unique and rapidly expanding renewable energy needs, we are certain of our ability to anticipate and meet the growing demand.”

Due to government tax incentives, Greece has emerged as a leading market for solar power. In 2006, the country’s Parliament passed comprehensive Renewable Energy Sources legislation, part of which provides grants and favorable tax treatment as incentives for implementing solar energy solutions. For commercial entities, incentives in the form of grants can run as high as 50 percent of the total cost of a company’s solar system.

Furthermore, high levels of environmental awareness among Greece’s populace are a driving demand for renewable energy sources.

For its new office, which will be led by Aspen Energy Managing Director Evaggelos Tsoupakis, Clear Skies Solar will hire a staff of local individuals, with US-based personnel overseeing the location’s operational setup.

“This partnership will exponentially enhance our companies’ joint ability to capitalize on Greece’s burgeoning solar market,” Tsoupakis stated. “Given the strategic location of the new office, I am confident we will be able to proactively identify, pursue and secure a variety of significant business opportunities and this process has already begun with proposals submitted for a number of near-term commercial projects being evaluated.”

“Clear Skies Solar’s expansion and collaboration with Aspen Energy is simply a win-win for everyone involved,” Green added, “We look forward to many, many years of productive and profitable partnership.”

Going beyond its base in the United States, Clear Skies Solar’s Larissa office marks the company’s second expansion into the international arena. In April, CSS announced a $20 million letter of intent to develop and build a multi-megawatt solar energy system in Uttar Pradesh, India, that will power a steel mill and support the community’s energy grid system. For this project, CSS will provide technology, engineering and construction services. Additionally, the company will be available to support the system’s operational and maintenance needs.

Clear Skies Solar Lands $20 Million Deal In India

NEW YORK & INDIA--(BUSINESS WIRE)--Clear Skies Solar, Inc. (OTCBB:CSKH) today announced a $20 million agreement, subject to financing, with Power Cube, a company located in Utter Pradesh, India to develop and construct the first of several solar energy projects in India.

In this project, which is Clear Skies Solar’s first step into the international arena, the company will design and construct a multi-megawatt solar power system that will supply power to a steel mill and support the community’s energy grid system, providing much-needed energy on this particular line.

“We recognize that the continued use of fossil fuels negatively impacts both the economy and the environment,” said Power Cube Chairman Mohan Kejriwal. “As such, Power Cube is determined to meet a portion of India’s energy requirements by developing several large solar photovoltaic projects (PV Projects) which will generate electricity from sunlight.”

“India represents the first of many untapped markets that Clear Skies Solar plans to enter in 2008 and 2009,” said Ezra Green, Chairman and CEO of Clear Skies Solar. “Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs.”

“While international projects pose special challenges for solar energy providers, such as identifying proper high voltage lines and the ownership of the property for the system to be installed,” added Green. “Our unique ability to overcome such challenges makes Clear Skies Solar the natural choice for clients with challenging power needs.”

“Clear Skies Solar has shown that it has the ability and innovative construction techniques to execute this contract, and we look forward to this project beginning in October of 2008,” added Kejriwal. “It is the goal of both parties to complete the construction of the five megawatt PV Project and for it to be operational before March of 2009.”

Clear Skies Solar will provide the technology, engineering and construction services needed to create the PV Project and will also be prepared to provide the operation and maintenance services needed.