Wednesday, April 09, 2008

Clear Skies Solar Signs LOA for $20 Million Solar Energy Deal in India

Clear Skies Solar, Inc. (OTCBB:CSKH) today announced a $20 million agreement, subject to financing, with Power Cube, a company located in Utter Pradesh, India to develop and construct the first of several solar energy projects in India.

In this project, which is Clear Skies Solar's first step into the international arena, the company will design and construct a multi-megawatt solar power system that will supply power to a steel
mill and support the community's energy grid system, providing much-needed energy on this particular line.

"We recognize that the continued use of fossil fuels negatively impacts both the economy and the environment," said Power Cube Chairman Mohan Kejriwal. "As such, Power Cube is determined to meet a portion of India's energy requirements by developing several large solar photovoltaic projects (PV Projects) which will generate electricity from sunlight."

"India represents the first of many untapped markets that Clear Skies Solar plans to enter in 2008 and 2009," said Ezra Green, Chairman and CEO of Clear Skies Solar. "Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Clear Skies Solar has built the infrastructure necessary to support this type of international expansion and to develop large-scale projects at an accelerated pace in order to support global power needs."

"While international projects pose special challenges for solar energy providers, such as identifying proper high voltage lines and the ownership of the property for the system to be installed," added Green. "Our unique ability to overcome such challenges makes Clear Skies Solar the natural choice for clients with challenging power needs."

"Clear Skies Solar has shown that it has the ability and innovative construction techniques to execute this contract, and we look forward to this project beginning in October of 2008," added Kejriwal. "It is the goal of both parties to complete the construction of the five megawatt PV Project and for it to be operational before March of 2009."

Clear Skies Solar will provide the technology, engineering and construction services needed to create the PV Project and will also be prepared to provide the operation and maintenance services needed.

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