WorldWater & Power Corp. (OTC BB:WWAT.OB) announced it has signed a $280,000 contract to install a solar PV system in a high-end architectural model residence in Southern California. The solar design has been approved by the Rancho Santa Fe Art Jury, a local committee charged with maintaining stringent standards for the aesthetics of any renovations or new construction in the community. Construction is scheduled to begin in July. The solar system was designed in coordination with the owner and the award-winning architecture firm, Ronchetti Design of Rancho Santa Fe, to supply all the electric energy requirements of the property.
“The project represents entry into the high-end residential market in the initial stage of the architectural design process,” said Quentin T. Kelly, Chairman and CEO of WorldWater & Power. “We couldn’t be more pleased to have our technology used in a design by a world-renowned architect like Ken Ronchetti.”
“This project represents a strong foothold for WorldWater & Power in the growing market for residential and small commercial solar electric systems in California,” noted Larry Slominski, Regional Manager for WorldWater & Power.
This is the second project awarded to WorldWater & Power this week. On May 18, the Company announced the signing of a $7.8 million contract to install solar electric power at Farm ACW, an avocado ranch in California. With this newest contract, WorldWater will now have five projects in pre-construction or under construction: two water utilities — the Atlantic County Utilities Authority in New Jersey and the Idyllwild Water District in California; two agricultural projects — Cocopah tree farm and the avocado ranch, both in California; and this residential contract. The residential contract brings the total backlog of projects in 2005 to nearly $12.5 million, compared to total revenues of $5.8 million in 2004.
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