PENNINGTON, N.J., May 20, 2005 (PRIMEZONE) -- WorldWater & Power Corp. (OTCBB:WWAT), maker of proprietary high-power solar systems, today announced the signing of a contract for $280,000 to install a solar electric generation and distribution system in a prestigious architectural model residence in Southern California.
The solar design has been approved by the Rancho Santa Fe Art Jury, a local committee charged with maintaining stringent standards for the aesthetics of any renovations or new construction in the community. Construction is scheduled to begin in July. The solar system was designed in coordination with the owner and the award-winning architecture firm, Ronchetti Design of Rancho Santa Fe, to supply all the electric energy requirements of the property. WorldWater & Power will operate as a subcontractor to the general contractor in charge of the renovation.
"The project represents entry into the high-end residential market in the initial stage of the architectural design process," said Quentin T. Kelly, Chairman and CEO of WorldWater & Power. "We couldn't be more pleased to have our technology used in a design by a world-renowned architect like Ken Ronchetti."
"Design seeks to unify an owner's vision and lifestyle with the environment. Solar power is a natural fit. WorldWater's work with us on energy balances and solar production in the early stages were key to this part of the project," noted architect Ken Ronchetti.
"This project represents a strong foothold for WorldWater & Power in the growing market for residential and small commercial solar electric systems in California," noted Larry Slominski, Regional Manager for WorldWater & Power. "The California legislature is working hard to pass a multi-year Million Solar Roofs Initiative (Senate Bill 1, 2/28/2005), which has a goal of achieving 3,000 megawatts of installed solar electric systems over ten years to reduce energy outages and improve air quality standards throughout the state. We compliment the owner, architect and builder for their choice to use solar."
This is the second project awarded to WorldWater & Power this week. On May 18, the Company announced the signing of a $7.8 million contract to install solar electric power at Farm ACW, an avocado ranch in California. With this newest contract, WorldWater will now have five projects in pre-construction or under construction: two water utilities -- the Atlantic County Utilities Authority in New Jersey and the Idyllwild Water District in California; two agricultural projects -- Cocopah tree farm and the avocado ranch, both in California; and this residential contract. The residential contract brings the total backlog of projects in 2005 to nearly $12.5 million, compared to total revenues of $5.8 million in 2004.
The WorldWater & Power Corporation logo is available at:http://www.primezone.com/newsroom/prs/?pkgid=1629
About WorldWater & Power Corp:
WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at www.worldwater.com.