Blue Earth Announces MOU for ~$4.5 Million to Build & Operate 3 Megawatts Solar PV in Hawaii

Blue Earth, Inc. a renewable energy and energy efficiency services company, announced today that its wholly owned subsidiary, Xnergy Inc., entered into a binding Memorandum of Understanding (“MOU”) with a major renewable energy company to construct about 3 MWs of solar PV projects in Hawaii. Under the MOU, Xnergy will provide engineering support, procurement for majority of the equipment and complete construction (“EPC”) services for the approximate 3 megawatts of solar PV projects. The EPC revenue for the Company is expected to be approximately ~$4.5 million.

Blue Earth

Procurement and Construction is expected to commence in April and be concluded during the fourth quarter. The parties are concluding final EPC and O&M contracts prior to the start of construction.

“We are delighted to have the opportunity to provide EPC and Operational services for a major renewable energy company.¬†We expect to soon be the largest by MW’s installed in the great State of Hawaii and leverage that into more opportunities,” stated D. Jason Davis, CEO of Xnergy, Inc. “Expanding our EPC business activities in HI will be beneficial to the ramp up of construction of our HI solar PV pipeline, including the Waianae project, which is now under construction.”

“Constructing these projects in conjunction with the completing the Sun Valley projects and commencing our first HI projects will continue the rapid ramp up in revenue growth and help the Company achieve revenue as presented in previous presentations,” according to Dr. Johnny Thomas, CEO and President.

Xnergy is a full-service EPC (Engineering, Procurement, Construction) firm, which has engineered, installed, and/or commissioned over a 100 MW of traditional and alternative energy systems. Energy provides a broad range of comprehensive energy solutions including the design and implementation of energy savings projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply and risk management. Xnergy serves private and public clients from all industries throughout the Western United States, including Hawaii and helps them minimize their energy consumption and reduce their carbon footprint.

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