WorldWater & Power Corp. (OTC BB: WWAT), developer of proprietary high-powered solar energy systems, announced it signed a $1,145,800 contract to build and install a solar electric power generation system for Quality Embroidery in Los Angeles, California. The photovoltaic (PV) system will provide electricity for the company, and is expected to substantially reduce electrical usage costs for the facility. With the signing of this contract, on top of its earlier announced 2005 contract backlog of $23 million, the Company issued Revenue Guidance for 2006, projecting Revenue of $25 million to $35 million.
For Quality Embroidery, WorldWater & Power Corp. plans rooftop and carport installation of the PV panels that will power the system. Plans call for construction of the carport and installation of the systems by GJ Electric of Los Angeles. The project will be managed and supervised by Quantum Energy Group, the California engineering, construction and project management firm acquired by WorldWater & Power Corp. earlier this year. The contract is subject to approval of financing and the utility rebate application, following which construction is expected to begin immediately.
Loading...