TORONTO, July 5, 2012 /PRNewswire/ -- Atlantic Wind
& Solar Inc. (OTC:AWSL) wishes to update shareholders regarding
Atlantic's FIT projects - both contracted and applied for.
Construction
The Company continues to move its existing contracts closer
to construction, working through issues of timing and connectivity,
while preparing for the opening of the Ontario Power
Authority's re-submission window for many other projects
currently in the application phase.
FIT 2.0
There has been much discussion of the new FIT 2.0 ("FIT two
point oh" - as it is known colloquially) rules. It is generally
felt that the new stronger requirements serve to keep the most
interested parties involved while companies that thought to dabble
in the business move on to other things. The "solar coaster"
business, it turns out, is not for everyone.
"The Feed-in Tariff style program remains the best method for
governments to encourage the use of renewable energy. It just
doesn't seem to work as quickly as everyone expected," stated
Gilles A. Trahan, Atlantic Chairman
and CEO. "In Ontario the OPA gave contract holders three years to
complete. Everyone, including Atlantic, thought this was an
eternity, knowing that these projects could be constructed in 60 to
90 days once all was in place. It seems the OPA had the foresight
to expect the unexpected and here we all are."
Looking Ahead
Atlantic continues its work in Ontario and elsewhere and looks forward having
project completions to announce in the fall.
For more information about Atlantic Wind & Solar, view the
corporate web site at:
www.AtlanticWindandSolar.com and/or email:
info@AtlanticWindandSolar.com
Join the Atlantic Facebook page at:
http://www.facebook.com/AtlanticWindandSolar
Follow us on Twitter: https://twitter.com/AWSL_
Disclaimer: Shareholders and investors are strongly cautioned
against placing undue reliance on information set forth in these
communications in making any investment decisions concerning our
securities. The matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks are detailed from time to time in the Company's
periodic reports filed with the OTCMarkets.com including the
company's Annual Report, Quarterly Reports and other periodic
filings. These forward-looking statements speak only as of the date
hereof. The Company disclaims any intent or obligation to update
these forward-looking statements.
SOURCE Atlantic Wind & Solar Inc.