WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), a developer of high-power solar systems, announced that it will build a $4 million solar system for Ocean City, New Jersey, that will be the largest municipal system in the state, capable of producing 550,000 kilowatt hours of energy.
The Ocean City Municipal Solar Energy Power Project will include roof mounts on the Cultural Arts and Community Center, the new Public Works Complex building, the Vehicle Maintenance Center and the Sports and Civic Center.
The award for the long-term Power Purchase Agreement with WorldWater is expected to allow Ocean City to offset approximately 17% of the City’s total yearly electricity requirements for buildings that it owns and/or operates.
The project is expected to be completed later this year.
Quentin T. Kelly, Chairman and CEO of WorldWater, said " Under WorldWater’s awarded contract, which lasts 15 years, the company will receive $1.6 million in rebates from the New Jersey Board of Public Utilities, along with solar renewable energy credits (SRECs) and federal tax credits on top of the ongoing electric billings to be paid by Ocean City."
About WorldWater & Solar Technologies
WorldWater & Solar Technologies Corp. is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that generates and distribute electricity, and can drive 1000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world’s electricity and water supply problems.
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