February 9, 2010

Montreal, Canada: Peterborough Utilities to Construct 10 MW Solar Farm

ICP Solar Technologies, has announced that EPOD Solar, a British Columbia company, has entered into an agreement with Peterborough Utilities Inc.(PUI) to construct a 10 MW solar farm on Lily Lake Road in Peterborough, Ontario worth in excess of $30 million.

Construction is expected to begin within one month. Subsequent to the closing of the previously announced transaction between ICP Solar and EPOD Solar, the PUI agreement shall be assigned to ICP Solar.

"ICP Solar is very excited about the potential opportunity to be a partner in this state-of-the-art initiative to build a facility employing the latest in thin-film photovoltaic solar technology," said Mike Matvieshen Chairman and CEO of ICP Solar.

Founded in 1914, the Peterborough Utilities Commission (PUC) operated in Peterborough for more than 85 years as a not-for-profit organization. Restructured in 2000, the PUC became part of the Peterborough Utilities Group with a number of new companies established within the group including Peterborough Utilities Inc. which manages electrical generation and retail services. Today, Peterborough Utilities Inc. (PUI) operates several Electrical Generation facilities, provides Meter Service Provider (MSP) and Meter Data Management Agency (MDMA) services and manages Rental Services including water heater rentals and sentinel lighting rentals

Further details about: ICP Solar Technologies