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Ocean City, N.J. Contracts for $4 M Solar Installation

March 25, 2008

The Ocean City Council has awarded WorldWater & Solar Technologies Corp., developer and marketer of proprietary high-power solar systems, a contract to build a $4 million solar system.

The Ocean City Municipal Solar Energy Power Project is expected to produce nearly 550,000 kilowatt-hours of energy in its first year and will include roof mounts on the Cultural Arts and Community Center, the new Public Works Complex building, the Vehicle Maintenance Center, and the Sports and Civic Center.

The award for the long-term Power Purchase Agreement is expected to allow Ocean City to offset approximately 17 percent of its total yearly electricity requirements for buildings. The project is expected to be completed later this year.

"These rooftop applications will save Ocean City millions of dollars overall and once again prove that sustainable energy is a sensible solution as oil prices remain at record levels," said Quentin T. Kelly, chairman and chief executive office of WorldWater.

The contract, which lasts 15 years, will give the company $1.6 million in rebates from the New Jersey Board of Public Utilities, along with solar renewable energy credits (SRECs) and federal tax credits on top of the ongoing electric billings to be paid by Ocean City.

WorldWater & Solar Technologies Corp. is a full-service, international solar electric engineering, and water management company with unique, high-powered, and patented solar technology that can drive 1,000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world's electricity and water supply problems.