WorldWater & Solar wins $4M contract in New Jersey

WorldWater & Solar Technologies Corp. announced that the City Council of Ocean City, NJ has awarded the Company a contract to build a $4 million solar system for the City which is expected to produce nearly 550,000 kilowatt-hours of energy in its first year. The Ocean City Municipal Solar Energy Power Project will include roof mounts on the Cultural Arts and Community Center, the new Public Works Complex building, the Vehicle Maintenance Center and the Sports and Civic Center...

• City council chooses WorldWater to build largest municipal solar installation in New Jersey

EWING, NJ, March 11, 2008 -- WorldWater & Solar Technologies Corp., developer and marketer of proprietary high-power solar systems, today announced that the City Council of Ocean City, NJ has awarded the Company a contract to build a $4 million solar system for the City which is expected to produce nearly 550,000 kilowatt-hours of energy in its first year. The Ocean City Municipal Solar Energy Power Project will include roof mounts on the Cultural Arts and Community Center, the new Public Works Complex building, the Vehicle Maintenance Center and the Sports and Civic Center.

The award for the long-term Power Purchase Agreement with WorldWater is expected to allow Ocean City to offset approximately 17% of the City's total yearly electricity requirements for buildings that it owns and/or operates. The project is expected to be completed later this year.

"This is a win-win for WorldWater and the State of New Jersey," said Quentin T. Kelly, Chairman and CEO. "Following on our successful installations elsewhere in the state, these rooftop applications will save Ocean City millions of dollars overall and once again prove that sustainable energy is a sensible solution as oil prices remain at record levels. Under WorldWater's awarded contract, which lasts 15 years, the company will receive $1.6 million in rebates from the New Jersey Board of Public Utilities, along with solar renewable energy credits (SRECs) and federal tax credits on top of the ongoing electric billings to be paid by Ocean City. We are pleased to continue providing New Jersey residents with cutting edge, environmentally-friendly ways to power their way to the future."

Four proposals were received by the City, which selected WorldWater. Mayor Salvatore Perillo stated: "At a time when we are seeing double-digit increases in annual electric costs, this is welcomed savings. The savings will start in July and will help us to reduce our energy budget."

WorldWater & Solar Technologies Corp. is a global leader in the design, engineering and delivery of solar energy systems. The largest source of carbon dioxide emissions, the leading cause of global warming, is caused by electric power generating stations burning fossil fuel.

In addition to Megawatts of installations in the US and globally, solar installations completed by WorldWater in the State of New Jersey include: the Federal Courthouse Annex in Trenton; Liberty Science Center in Jersey City; Atlantic County Utilities Authority Water Treatment Plant in Atlantic City; Voorhees Middle School in Voorhees Township; Ray Angelini Incorporated (RAI) Electrical Contractors in Sewell and Richard Stockton College in Pomona.

This installation by WorldWater will eliminate over 820,000 lbs of CO2 being released in the atmosphere.

WorldWater & Solar Technologies Corp. is a full-service, international solar electric engineering and water management company

###

More in Energy Management