Breaking Cleantech / Solar Stock News: Green Stream Holdings (OTC: $GSFI) Secures Another Community Solar Project
Pacific Palisades, CA - June 22, 2020 (Investorideas.com Newswire) Cleantech and renewable energy stocks news alert - Green Stream Holdings Inc. (OTCMKTS:GSFI) ("Green Stream", "GSFI", or the "Company"), an emerging leader in the democratization of solar energy through innovative solar energy generation facilities and designs, is excited to announce that the Company has secured a new Community Solar Project agreement (the "Agreement") with CubeSmart Self Storage of Hackensack, NJ ("CubeSmart"). The project is anticipated to produce over $3.9 million in revenues for over a period of 25 years.
The Agreement provides for the rooftop installation of a solar energy collection system at the CubeSmart facility. Design and Permitting is anticipated to be concluded next month, and the system is expected to be fully installed by November 2020.
"We are excited about this new project and anticipate a smooth installation and launch at CubeSmart," stated Madeline Cammarata, President of Green Stream Holdings. "The community solar model is a proven path to private sector implementation of renewable energy infrastructure. Energy from the Sun will hit the CubeSmart facility whether we install the means to collect it or not. We believe this installation will represent an effective demonstration of how our model can make better use of that resource, and we look forward to ongoing and future discussions with proprietors of many similar facilities over the near term as Green Stream continues to expand our Community Solar footprint."
The Agreement provides for the installation of 1,099 Q-Cell 415 photovoltaic solar panels driven by 11 SolarEdge 33.3 480v inverters creating a 456 KW Solar Photovoltaic rooftop system. Installation designs will be provided by the Company's partner, Morali Architects, the leading architecture firm run by renowned architect, Antony Morali.
The installation is anticipated to produce over $3.9 million in solar energy revenues over a period of 25 years. The Company will pay monthly lease fees to CubeSmart as compensation for the use of its site as host for system installation and collection of solar energy.
The Company has contracted Green Hybrid Energy Solutions, Inc, a top regional solar energy solutions company certified by the North American Board of Certified Energy Practitioners (NABCEP), to handle construction and installation of the Solar Photovoltaic rooftop system. Construction and installation costs will be heavily subsidized by federal, state, and local solar energy subsidies.
About Green Stream Finance, Inc.
Green Stream Finance, Inc., a Wyoming-based corporation with satellite offices in Malibu, CA and New York, NY, is focused on exploiting currently unmet markets in the solar energy space, and is currently licensed in California, Nevada, Arizona, Washington, New York, New Jersey, Massachusetts, New Mexico, Colorado, Hawaii, and Canada. The Company's next-generation solar greenhouses, constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali. The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products. The Company has a growing footprint in the significantly underserved solar market in New York City where it is targeting 50,000 to 100,000 square feet of rooftop space for the installation of its solar panels. Green Stream is looking to forge key partnership with major investment groups in order to capitalize on a variety of unique investment opportunities in the commercial solar energy markets. The Company is dedicated to becoming a major player in this critical space. Through its innovative solar product offerings and industry partnerships, the Company is well-positioned to become a significant player in the solar space.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Green Stream Finance, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Green Stream Finance, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
Green Stream Finance Inc. & Green Rain Solar, LLC
16620 Marquez Avenue
Pacific Palisades, CA 90272
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SOURCE: Green Stream Finance, Inc.
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