BURNABY, BC, June 7 /CNW/ - Day4 Energy Inc. (TSX: DFE), a leading supplier of high performance, cost-effective solar electric solutions, today announced it has commenced the construction of a turnkey 725kW ground mounted photovoltaic power plant for Kreissparkasse Rottweil, a local Savings Bank in Germany.
Day4 Energy has already completed the design, engineering works and has begun construction of the PV power plant. Once completed, the plant is expected to include approximately 3920 48MC Day4 modules. While bank financing is routinely used to leverage equity investments in PV projects, in this particular case Kreissparkasse Rottweil has selected the Day4 technology and project execution capabilities for construction of the project that will be 100% owned by the bank itself. Day4 will be further awarded a complete maintenance and operation contract for the project subsequent to completion of project construction. The Kreissparkasse Rottweil is adjacent to the Day4 German headquarters and will have the additional benefit of being a very convenient reference site for future customers. The energy produced at this solar plant will be sold to the local grid provider under the German FIT Law (EEG).
"Given the prevalence of PV in the south of Germany banks have exposure and access to a very broad number of PV industry players and therefore Kreissparkasse Rottweil's choice of Day4 Energy is a testament to the unique value that we bring to the market through the combination of industry leading technology, performance driven system design and the uncontested installation expertise and quality delivered by our channel partners," said George Rubin, President of Day4 Energy.
Day4 Energy is focused on significantly increasing its presence in the solar project market vertical over the next several months and intends to scale its project development business model to other markets including Italy and Canada.
Day4 Energy Inc. is a Canadian company dedicated to providing high performance photovoltaic (PV) solutions for residential, commercial and utility scale installations. By fundamentally improving on the design and assembly of solar cells and modules, the Company produces unique PV panels of high power density, increased lifetime and uncompromised aesthetic appearance. Day4 partners with international technology leaders to develop and deliver IEC- and UL-certified solar products to customers around the world. Day4 is listed on the Toronto Stock Exchange under the symbol "DFE". For more information, please visit www.day4energy.com.
Forward Looking Statements:
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
SOURCE Day4 Energy Inc.
For further information: For further information: Therese Hayes, Head, Corporate Development, Day4 Energy Inc., (604) 345-6771, firstname.lastname@example.org; Heather Ballachey, Media Contact, Day4 Energy Inc., (604) 296-0445, email@example.com