WorldWater Corp. Signs New Contract to Provide Solar Systems to 1,200 Homes In the Philippines
PENNINGTON, N.J., Dec. 5 /PRNewswire/ -- WorldWater Corp.
(OTC Bulletin Board: WWAT), a full-service water management and solar
engineering company specializing in solar pumps and solar electrical systems
to provide clean water and electricity to users in developing countries around
the world, announced today that it had signed an agreement with Cebu Electric
Cooperative (CEBECO), a major electric utility in the Province of Cebu, the
Philippines, for the installation of 1,200 solar home electrification systems.
Initial phase of the project is valued at $600,000, with a total Cebu program
estimated at $40 million, according to Company officials.
Guido Delgado, Chairman of WorldWater Philippines and former President of
the National Power Corporation of the Philippines, declared that, "This
project is the first segment of a full Energy Services Company (ESCO) joint
venture which we expect to form with CEBECO."
Dr. Anand Rangarajan, Executive Vice President of WorldWater Corp. and
President of WorldWater Philippines, said that 75,000 homes remain
unelectrified within CEBECO territory. The objective of this project is to
bring 100% coverage within CEBECO territory, an estimated program of
$40 million, he said.
WorldWater Corp. Chairman and Chief Executive Officer Quentin T. Kelly
said that "Under terms of the agreement with Cebu Electric Cooperative Inc.,
the Company is partnering with the National Renewable Energy Laboratories
(NREL) of the US Department of Energy (USDOE), which has entered into a
three-way memorandum of understanding with WorldWater Corporation and CEBECO.
The systems will include solar panels, lamps, batteries, control units and
wiring for each installation and the project will include community capacity
building and cost recovery."
Francisco Silva, President of CEBECO, said "This project will serve as a
model not only for CEBECO but also for the whole nation of about
7,000 islands, where 50% of all unelectrified homes are expected to use solar
energy and other renewable energy technologies. We at CEBECO look forward to
working with WorldWater and NREL of the US Department of Energy."
WorldWater Corp. is extensively involved in water and solar electricity
projects in the Philippines. This project is in addition to a Province-wide
project valued at $20 million to bring drinking water to 100,000 people in
150 villages in the Province of Cebu, Mr. Kelly said. WorldWater earlier
signed with the Province of Sulu to supply water to all of the islands in that
southernmost province. Province officials estimate the full value of that
contract at $30 million over three years.
"Cebu Electric Cooperative holds the electric distribution utility
franchise in the southern part of the province and plans to use solar power
technologies to provide electricity for lighting and other purposes to
communities in its coverage area," Mr. Kelly said. "Selecting our Company as
contractor for this major project shows Cebu Electric's confidence in
WorldWater Corp.'s ability to assist CEBECO in technical expertise in the
field of solar energy, project financing and commitment to social capacity
building."
WorldWater Corp. (http://www.worldwater.com) is a full-service water
management and solar engineering company specializing in solving water
problems through use of its proprietary solar energy. The Company produces
and distributes the proprietary AquaSafe(TM) and AquaMax 2200(TM) solar water
pumps, capable of delivering water in volumes from 5 gallons to more than 2000
gallons per minute.
