SYDNEY, Jul 24, 2014 -- BUSINESS WIRE CBD Energy Limited (NASDAQ: CBDE) today announced that its Westinghouse Solar subsidiary has finalized binding contracts for commercial solar installations in Australia totaling $1.3M. Additionally its bid pipeline has grown to $14.5M. This reflects the increasing price of energy
SYDNEY, Jul 24, 2014 -- BUSINESS WIRE
CBD Energy Limited (NASDAQ: CBDE) today announced that its Westinghouse Solar subsidiary has finalized binding contracts for commercial solar installations in Australia totaling $1.3M. Additionally its bid pipeline has grown to $14.5M. This reflects the increasing price of energy in the Australian market which makes the Westinghouse Solar range of products and services competitive with fossil fuel generation.
Among the new contracts are installations at two branches of a leading Australian financial institution; installations at an additional 30 branches are anticipated in the near term. In line with CBDE's corporate model, Westinghouse Solar will conduct a comprehensive energy assessment of each site to determine whether additional energy upgrades could further increase its energy efficiency.
CBDE is receiving a positive response to its focused attention on the commercial market in light of increased energy prices; a transition to solar enables businesses to lock-in one aspect of their energy inputs for 20 years.
"We congratulate these commercial customers on 'going solar' as a means of protecting the environment in which they and their customers live, and achieving long-term energy price certainty. Westinghouse Solar and CBD Energy are proud to help our clients attain their energy conservation goals. We anticipate growing adoption of solar by the commercial sector as energy costs continue to rise and businesses gain a better understanding of the multiple benefits provided by renewable energy sources," said Gerry McGowan, Executive Chairman and Managing Director of CBD Energy Limited.
CBD Energy Limited is a diversified clean energy company and leading global provider of solar systems, having completed more than 17,000 residential installations on four continents. CBD Energy Limited markets its residential and commercial solar installations under the name Westinghouse Solar.
About CBD Energy Limited (NASDAQ: CBDE)
Established in 1989, CBD Energy Limited, or CBD, is a diversified renewable energy company and a global leader in solar installations. Powered by a management team with deep experience in the energy sector and strong engineering capabilities, CBDE is focused on the integration of residential solar, commercial and industrial solar, small utility scale solar and wind projects, in three principal markets - Australia, the United Kingdom and the United States.
Headquartered in Sydney, with principal regional offices in London and New York, CBDE has completed projects across four continents, in Australia, Fiji, Germany, Italy, New Zealand, the UK and the U.S. CBD has installed more than 17,000 residential systems and developed large renewable energy projects such as the 107MW wind farm in Taralga, NSW. CBD markets its residential and commercial solar installations under the name Westinghouse Solar, using the WESTINGHOUSE(R) trademark pursuant to an exclusive, long-term worldwide license. For further information on CBD Energy Limited and Westinghouse Solar, please visit:
Caution Concerning Forward-Looking Statements
This news release contains 'forward-looking' statements. Such forward-looking statements can be identified by, amongst other things, the use of forward-looking language, such as the words 'plan', 'believe', 'expect', 'anticipate', 'intend', 'estimate', 'project', 'may', 'would', 'could', 'should', 'seeks', or 'scheduled to', or other similar words, or the negative of these terms, or other variations of these terms or comparable language, or by discussion of strategy or intentions.
The forward-looking statements in this release include statements regarding the capacity and demand for the Company's commercial solar systems. Such forward-looking statements are subject to various risks, as well as those set forth in the Company's most recent Form F-1, as filed with the U.S. Securities and Exchange Commission (SEC), and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this news release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release, and CBD Energy Limited assumes no obligation to update or revise these statements unless otherwise required by law.