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29.06.2011
Solarmag Enters the USA Renewable Energy Market
Solarmag Enters the USA Renewable Energy Market
Solarmag PLC has established a wholly owned subsidiary, Solarmag Energy USA Inc. The new subsidiary has offices in New Jersey with President & Chief Operating Officer, Thomas Gamon. Mr. Gamon has over 30 years of experience in worldwide engineering, project development, finance and investment banking. In addition, he will be supported by a highly experienced team of energy professionals with combined expertise in large scale utilities regulation, development and project finance.
Before the end of 2011, Solarmag Energy USA Inc. (SEU) plans to secure a portfolio of 500MW in development rights for utility scale photovoltaic energy production. It is intended these projects will qualify for the Section 1603 30% Federal Grant that was designed to stimulate the development of renewable energy developments in the United States.
The renewable energy market in the USA has enormous growth potential and Solarmag aims to be a significant participant in this field. The increased global awareness concerning shortages in traditional energy supplies has made solar energy a viable alternative to meet the market’s growing demand. The necessary environmental factors and government incentives are available in key markets of the USA.
Solarmag PLC has also added to its management team in Amsterdam, the Netherlands. Max Sandberg will serve as Vice President. Mr. Sandberg has a M.Sc. in industrial engineering and management with professional experience in mixed technologies and economics. Mr. Sandberg will be responsible for the investment and business development at Solarmag.
“Combined with our future investments and developments in renewable energy in Europe, I see great opportunities in the USA,” said Lars-Erik Magnusson, Solarmag PLC CEO & Chairman. “I am very pleased that Thomas Gamon has accepted the position of President of SEU. I have known Thomas for more than 20 years and he has the know-how as well as a great network of contacts throughout the USA to make our company’s investments and developments a success in the US energy market. I am also pleased that Max Sandberg has joined Solarmag at our head offices in Amsterdam. Max will be responsible for the coordination of our investments and developments.”
“The United States is one of the world’s largest energy markets offering outstanding opportunity to diversify its energy portfolio by utilizing photovoltaic technology,” explains Mr. Gamon. “We intend to place our capital in those states that we consider the most fertile for renewable energy investments. Factors are: electricity prices above the national average; number of sun hours; strong renewable portfolio standards; and market based incentives, i.e. SRECs and feed-in tariffs. Among the states we consider the most favorable are New Jersey, Massachusetts, Arizona, Maryland, Hawaii and Puerto Rico.”
Solarmag anticipates that as solar technology advances, the levelized cost of energy will decrease, and thus expand the number of large scale development projects nationwide. Solarmag is looking forward to working with EPC’s, government agencies, developers and institutional partners.
SOLARMAG PLC
Thomas R. Malthusstraat 3b
1066 JR Amsterdam
Niederlande
Tel: +31 20 388 0060
Fax: +31 20 669 6508
Email: info@solarmag-plc.com
Website: www.solarmag-plc.com
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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Solarmag PLC has established a wholly owned subsidiary, Solarmag Energy USA Inc. The new subsidiary has offices in New Jersey with President & Chief Operating Officer, Thomas Gamon. Mr. Gamon has over 30 years of experience in worldwide engineering, project development, finance and investment banking. In addition, he will be supported by a highly experienced team of energy professionals with combined expertise in large scale utilities regulation, development and project finance.
Before the end of 2011, Solarmag Energy USA Inc. (SEU) plans to secure a portfolio of 500MW in development rights for utility scale photovoltaic energy production. It is intended these projects will qualify for the Section 1603 30% Federal Grant that was designed to stimulate the development of renewable energy developments in the United States.
The renewable energy market in the USA has enormous growth potential and Solarmag aims to be a significant participant in this field. The increased global awareness concerning shortages in traditional energy supplies has made solar energy a viable alternative to meet the market’s growing demand. The necessary environmental factors and government incentives are available in key markets of the USA.
Solarmag PLC has also added to its management team in Amsterdam, the Netherlands. Max Sandberg will serve as Vice President. Mr. Sandberg has a M.Sc. in industrial engineering and management with professional experience in mixed technologies and economics. Mr. Sandberg will be responsible for the investment and business development at Solarmag.
“Combined with our future investments and developments in renewable energy in Europe, I see great opportunities in the USA,” said Lars-Erik Magnusson, Solarmag PLC CEO & Chairman. “I am very pleased that Thomas Gamon has accepted the position of President of SEU. I have known Thomas for more than 20 years and he has the know-how as well as a great network of contacts throughout the USA to make our company’s investments and developments a success in the US energy market. I am also pleased that Max Sandberg has joined Solarmag at our head offices in Amsterdam. Max will be responsible for the coordination of our investments and developments.”
“The United States is one of the world’s largest energy markets offering outstanding opportunity to diversify its energy portfolio by utilizing photovoltaic technology,” explains Mr. Gamon. “We intend to place our capital in those states that we consider the most fertile for renewable energy investments. Factors are: electricity prices above the national average; number of sun hours; strong renewable portfolio standards; and market based incentives, i.e. SRECs and feed-in tariffs. Among the states we consider the most favorable are New Jersey, Massachusetts, Arizona, Maryland, Hawaii and Puerto Rico.”
Solarmag anticipates that as solar technology advances, the levelized cost of energy will decrease, and thus expand the number of large scale development projects nationwide. Solarmag is looking forward to working with EPC’s, government agencies, developers and institutional partners.
SOLARMAG PLC
Thomas R. Malthusstraat 3b
1066 JR Amsterdam
Niederlande
Tel: +31 20 388 0060
Fax: +31 20 669 6508
Email: info@solarmag-plc.com
Website: www.solarmag-plc.com
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B1FJK646">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B1FJK646</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.