| Press Release: September 24, 2009 |
CORRECTED PRESS RELEASE Sierra Solar I Competitively Selected and Signs Power Purchase Agreement
Through the State of Nevada competitive selection process, which included approvals from a State of Nevada independent evaluation committee, the Board of Examiners and the Nevada Legislative Interim Finance Committee, SSI is obligated to provide power from the solar PV parking lot structures to the Nevada Army National Guard at a fixed levelized cost per kilowatt hour for the next 20 to 35 years. SSI will invest approximately $11 million for project financing, design, procurement, construction, operation and maintenance of the solar PV parking lot structures at each site. SSI is a Nevada based limited liability company and affiliate of GA-SNC Solar LLC, with team members that include Sierra Nevada Corporation (SNC) and Gestamp Asetym Solar North America, Inc. (GA-SOLAR). GA-Solar is one of the largest and most experienced providers of solar power in the world. “We are honored to have been selected to develop this project,” said Greg Cox, Corporate Vice President, SNC. “We are excited to get this project underway with our other Nevada based engineering and construction teammates.” We were informed on June 10, 2009 that SSI was selected through the State’s competitive selection process. Construction on the project is estimated to start in November 2009 and all three sites and anticipated to be complete and operational by June 2010. This project is estimated to create 20 development and construction jobs and 2 long term operations and maintenance jobs. About Sierra Nevada Corporation Over its 46 year history, SNC has remained focused on providing its customers the very best in diversified technologies to meet their needs and has a strong and proven track record of success. SNC has grown into one of the Top Woman-Owned Federal Contractors in the United States while maintaining its reputation for innovation and agility. The company continues to focus its growth on the commercial sector through internal advancements and outside acquisitions, including the emerging markets of telemedicine, nanotechnology, energy and net-centric operations. For more information on SNC visit www.sncorp.com. About GA-Solar North America |
Sparks, Nevada– September 24, 2009 – Sierra Nevada Corporation President, Eren Ozmen, announced today that Sierra Solar I (SSI) LLC has signed a power purchase agreement to provide electricity to the Nevada Army National Guard at three of its sites as part of the Nevada Army National Guard’s Super Solar Phase I project. SSI, without any state funding will invest approximately $11 million to develop and construct solar photovoltaic (PV) parking lot structures at the Nevada National Guard’s Fairview Complex Headquarters in Carson City, Nevada, the Las Vegas Readiness Center in south Las Vegas, and the Floyd Edsall Training Center in North Las Vegas. The combined power generated by these three sites will be approximately 3.4 megawatts. 