U.S.-based Clear Skies Solar Inc. has established a corporate office in Larissa

[Angelo]

Clear Skies opens office in GreeceFiled from Houston
7/15/2008 2:50:44 PM GMT





LARISSA, GREECE: U.S.-based Clear Skies Solar Inc. has established a corporate office in Larissa in central Greece.



Clear Skies will partner with Larissa-based Aspen Energy, a company focused on procuring solar business opportunities in Greece, to serve as Aspen's exclusive supplier of renewable energy technology and installation. Aspen Managing Director Evaggelos Tsoupakis will lead the new office.



"This partnership will exponentially enhance our companies' joint ability to capitalize on Greece's burgeoning solar market," said Tsoupakis. "Given the strategic location of the new office, I am confident we will be able to proactively identify, pursue and secure a variety of significant business opportunities and this process has already begun with proposals submitted for a number of near-term commercial projects being evaluated."



Due to government tax incentives, Greece has emerged as a leading market for solar power, Clear Skies said. In 2006, the country's Parliament passed comprehensive Renewable Energy Sources legislation, part of which provides grants and favorable tax treatment as incentives for implementing solar energy solutions.



For commercial entities, incentives in the form of grants can run as high as 50 percent of the total cost of a company's solar system. High levels of environmental awareness among Greece's populace also is driving demand for renewable energy sources, according to Clear Skies officials.



The Larissa office is Clear Skies' second expansion into the international solar market. In April, the company announced a US$20 million letter of intent to develop and build a multi-megawatt solar energy system in Uttar Pradesh, India, that will power a steel mill and support the community's energy grid system.



Clear Skies will provide technology, engineering and construction services and support the system's operational and maintenance needs.


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