Solargy Systems Inc. Begins $120 Million West African Energy Project

Solargy Systems Inc. announced it has hired Cinergex Solutions Ltd, a Canadian provider of Waste to Energy (WTE) technology and equipment, to begin work on a $120 million energy facility that will be operated by Solargy Systems. The facility will generate over $100 million in revenue and open the door for additional facilities, using the Solargy model of combining solar and waste to create efficient power.

“Selecting Cinergex as a partner was no accident,” said Carl M. Nurse, Solargy CEO. “Cinergex has extensive experience developing modular WTE systems in Africa and throughout the developing world, and with their expertise we will be able to deliver these systems in a timely and affordable manner.” The 1,000 ton per day facility will be completed in 2010.

Management at Solargy are in the advanced stages of discussions relating to projects in the Caribbean, Africa and South East Asia. “Clearly, the economics are right, and we expect to have a number of firm commitments for our hybrid waste to energy systems soon. These projects will add several hundred million in revenues when completed. We share a vision of helping emerging economies meet the challenges of supplying economical green power solutions. Projections for 2009 are estimated at $25 million from solar photovoltaic systems and expand with the introduction of hybrid systems to $120 million in 2010,” said Nurse.

Solargy Systems Inc. is a systems integrator of alternative energy technologies. The technologies used will provide solutions to the high cost of energy in emerging markets by selling and installing small power systems ranging from 1 MW for large commercial applications to 20 MW and larger hybrid systems by using combinations of solar and wind or waste and solar. The combinations we use will be determined by local conditions.