Clear Skies Solar, Inc. (OTCBB:CSKH), a provider of turnkey solar electricity installations and renewable energy solutions, announced the purchase of 34 acres of land in Cantil, California to be the future site of a $44 million 8-megawatt (MW) solar farm.
The 34-acre farm, purchased in collaboration with roject development partner California Sunrise, will produce electricity for a power purchase agreement (PPA), between Clear Skies Solar and the local utility company. Under this contract, the electricity produced at the farm will be sold for 20 years to the utility company at approximately $0.12 per kWh escalating at approximately 1% per annum.
"Clear Skies Solar’s solar farm in Cantil, California is just the beginning of several large utility scale projects we’re developing and executing around the globe," said Ezra Green, CEO and Chairman of Clear Skies Solar.
The attractive aspect of this property is its proximity to the utility substation, the company said. Although there are many undeveloped desert areas in California that initially look ideally suited for a solar farm, there are few locations close enough to a utility substation to make the economics of a solar farm project feasible. In this regard, the Cantil property is truly unique.
About Clear Skies Solar
Clear Skies Solar, Inc. (CSS), through its subsidiary, provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector.
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