TORONTO, April 4 /CNW/ - Cleanfield Alternative Energy Inc.
("Cleanfield") (TSXV: AIR), a leader in innovative, urban, renewable
energy technologies and building-integrated solutions, is applying its
know-how in the development and installation of alternative energy
systems - including vertical axis wind turbines and power electronics -
to advance several hybrid and solar energy initiatives, including its
modified solar inverter, its off-grid hybrid inverter, and a
large-scale solar leasing program.
Cleanfield is participating in the Ontario Power Authority's Feed-In
Tariff (FIT) and (microFIT) programs, which provide 20-year power
purchase agreements for solar PV systems installed by Ontario
businesses and residential property owners. The company has installed a
10kW solar PV tracker system in Oshawa, Ontario, and will install two
3.5 VAWTs and a 10kW solar PV rooftop system at the CYO Marydale Park
in Hamilton. Cleanfield is also developing a 250kW rooftop system for
installation in Mississauga for Churchill International Property
Corporation. Churchill has acquired, financed, developed and
successfully sold a portfolio of real estate assets with a combined
value of nearly $1 billion. Moreover, Cleanfield is in discussions with
Churchill to install more PV systems with a capacity of approximately
one megawatt (MW).
Cleanfield has initiated a solar PV site leasing program and is
currently seeking vacant, flat rooftop space from commercial,
institutional and industrial building owners. The program pays building
owners a guaranteed annual fee for 20 years in exchange for access to
their rooftops for Cleanfield to install solar PV systems.
Cleanfield's CEO Tony Verrelli said, "Leveraging our proprietary
technologies and our five-year track record of developing and
installing small wind systems, we are now establishing Cleanfield as a
new player in the hybrid and solar energy field and finding the
partners and capital to support that new growth. Our current plans to
install two to five megawatts of solar PV systems could create a new
stream of revenue for Cleanfield starting in the next six to nine
months. Our solar initiatives are key parts of our overall urban
renewable energy technology strategy, which will position Cleanfield as
a dynamic power electronics company."
A recent PV forecast by Clear Sky Advisors - a research and advisory
firm in Toronto that develops insights and strategies for companies and
governments in the renewable energy sector - calls for annual
installations in Ontario to increase from 169MW in 2010 to 455MW this
ABOUT CLEANFIELD: Cleanfield is an innovative technology company focused on the research,
development and distribution of renewable energy solutions for urban
environments. Cleanfield possesses industry leading, proprietary
inverter technologies, which it currently sells as a complete solution
- a 3kW vertical axis wind turbine. The company's vision is to be
recognized as an international leader in bringing high-quality and
innovative sustainable energy solutions to the marketplace.
FORWARD LOOKING STATEMENTS: Certain statements in this news release may be considered to be
forward-looking. These statements relate to future events or
Cleanfield's future results including revenues and reflect the current
assumptions and expectations of management. Unknown factors may affect
the events, performance, revenues and results of operations described
herein. Cleanfield undertakes no obligation, and does not intend to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required
under applicable laws.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE Cleanfield Alternative Energy Inc.
For further information:
Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield (905) 304-5223, email@example.com.