Clear Skies Solar and ZebaSolar seal finance partnership

by Antonio Pasolini on March 18, 2009

Clear Skies Solar, a leading provider of turnkey solar electricity installations and renewable energy solutions, today announced the signing of a Memorandum of Agreement (MOA) with ZebaSolar. With this partnership, CSS will achieve a major milestone of financing its pipeline of multi-megawatt solar installations globally.

“This MOA grants ZebaSolar the right of first refusal to finance and own any of the more than 40 Megawatts currently in Clear Skies’ project pipeline – with an approximate value of $170 million for a period of twelve months,” stated Clear Skies Solar CEO, Ezra Green. “Project financing availability is critical to our business. The global financial crisis has had a major impact on our business, and this relationship is a key component in Clear Skies’ continued growth,” added Green. “For Clear Skies, this partnership is an important step in solidifying its pipeline and breaking ground on many of its contracted projects.”

Clear Skies develops multi-megawatt project pipeline in Greece, India and the United States. “As the world moves toward the clean power solution that solar energy technologies offer, we believe that we are strategically positioned to benefit greatly as the global economy recovers,” said Green.

ZebaSolar President and Executive Director Shahal Khan said his company’s “business strategy is to build a strong portfolio of solar power generation projects with a focus on the U.S., Southern Europe and India, and this partnership with Clear Skies Solar is an integral step toward fully realizing its strategy”.

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