Greenleaf-TNX and Cenergy Power to construct 1.75 MW "Nickel 1" solar project

KERN COUNTY, USA: Greenleaf-TNX and Cenergy Power have reached definitive agreement for the development, funding, and construction of a 1.75 MW solar power facility in Kern County, California, known as the 'Nickel 1' solar facility.

"The aim of California's current Feed-In Tariff program is to help the state meet its renewable energy mandates without excessively increasing the cost of electricity to consumers," notes Bill Pham, CEO of Cenergy Power. "This has been a very difficult balance to strike for solar projects, as there have been very few successfully commissioned solar projects under this program since its commencement in February 2008. With innovative and well-intentioned partners like Greenleaf, however, the sustainable development and construction of small distributed solar power plants can now become a reality in California. We intend to build many more solar power plants of this nature with Greenleaf in the foreseeable future."

"We are extremely pleased to be working with Cenergy Power to finance and own one of California's first small-generator feed-in projects. Together with our partner, Chaori Solar, we are happy to promote the use of solar energy and increase employment opportunities for American workers," said Tom Yap, Partner at Greenleaf-TNX Management. Charlie Fiechter, partner at Greenleaf-TNX Management, said, "Despite the challenging environment, I am honored that we have been able to provide the financing for this project in partnership with Cenergy. The success of financing and constructing such projects will be a powerful influence towards meeting grid parity with renewable technologies inside the US."

This project is now fully entitled and will begin construction this summer. Interconnection is scheduled for early 2012. Once completed the facility will generate approximately 3000 megawatt-hours a year of clean energy, offsetting approximately 6,500,000 pounds of CO2 released annually.