PETRA SOLAR’S $200 MILLION CONTRACT WITH PSE&G WILL RESULT IN LARGEST POLE-ATTACHED SOLAR INSTALLATION IN WORLD

PETRA SOLAR’S $200 MILLION CONTRACT WITH PSE&G WILL RESULT IN LARGEST POLE-ATTACHED SOLAR INSTALLATION IN WORLD

Manufacturing Site Will Produce “Smart” Solar PV Systems; 100 Green Jobs to Be Created
(July 29, 2009 – South Plainfield, NJ) – Petra Solar, Inc., the leading provider of innovative photovoltaic (PV) solutions for utilities, will be producing 200,000 smart solar systems for installation on PSE&G utility poles and street light poles in the largest pole-attached solar installation in the world, following the NJ Board of Public Utilities approval of a new PSE&G program today. Petra Solar will also be creating more than 100 green jobs in installation, research and development, operational and manufacturing of the pole-mounted, grid-connected solar PV system.

In a contract of about $200 million with PSE&G, Petra Solar will make units for 200,000 poles in New Jersey’s six largest cities and 300 rural and suburban communities in PSE&G’s service territory. Over the 3½ year life of the contract, Petra will add the green jobs to its employee base of 40-plus employees, most of whom work in the company’s South Plainfield headquarters and manufacturing facility.

Shihab Kuran, President and CEO of Petra Solar, said, “This contract is transformational for us. We are tripling in size and will start hiring immediately. We invite those interested in applying for positions to visit the company’s website at www.petrasolar.com.”

Kuran added, “We at Petra Solar are very pleased to enter a contract with PSE&G to provide 200,000 pole-mounted, grid-connected solar systems. This effort exemplifies the Obama and Corzine administration goals of transforming energy technology into energy employment opportunities while at the same time addressing global energy and climate change challenges.”
“Our SunWave™ pole-mounted, grid-connected PV generation system delivers true technological innovation,” Kuran said. “Our product will enable PSE&G to enhance the reliability of its delivery of electricity to customers. ”

Petra’s SunWave system combines highly distributed, grid connected photovoltaic generation and smart grid communications capabilities. In addition it provides enhancement of electric distribution grid reliability through a host of functions such as voltage support.
For media queries: Becky Taylor, 609-240-6886, becky@btaylorpa.com.





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