Valos Solar Ventures Signs Power Purchase Agreement for Solar Development in California

HOUSTON--(BUSINESS WIRE)--Valos Solar Ventures, LLC (“Valos”) announced today that it has signed a 20-year Power Purchase Agreement (“PPA”) with Pacific Gas & Electric (“PG&E”) for its 20 MW SKIC Solar 1 site located near Bakersfield, California.

“Our SKIC Solar 1 project has already received its conditional use permit, and we anticipate our interconnection agreement with PG&E to be signed by November. We are pleased that interconnection costs on this project are relatively low compared to other areas in the state.”

California Public Utility Commission approval for SKIC Solar 1 is expected in October, and construction is set to begin no later than August 2013. The project will begin selling power into the California market by April 2014, per the terms of the PPA.

“We are excited about signing this PPA and executing on our solar strategy in California,” said Valos CEO, Hugh Tarpley. “As equipment prices have continued to decline, we believe Valos can bring cost effective solar power to the market.”

Valos COO Lori Cuervo added, “Our SKIC Solar 1 project has already received its conditional use permit, and we anticipate our interconnection agreement with PG&E to be signed by November. We are pleased that interconnection costs on this project are relatively low compared to other areas in the state.”

Gehrlicher Solar America Corp. (“GSAC”) is slated to be the EPC contractor for the SKIC Solar 1 project. Valos signed a Joint Development Agreement with GSAC in July 2012.

About Valos Solar Ventures, LLC

Valos Solar Ventures, LLC was founded in 2009 by industry veterans Hugh Tarpley and Lori Cuervo to develop, finance, own, and operate utility-scale solar power generating facilities. Currently, Valos is developing 130 MW of solar facilities in California. The company is headquartered in Houston, TX.

About Gehrlicher Solar America Corp. (GSAC)

GSAC is the United States subsidiary of the international photovoltaic system integrator Gehrlicher Solar AG, which was founded in 1994 to develop, plan, build, finance and operate solar power systems for ground mounting and for roofs. For more information, visit www.gehrlicher.us