Westinghouse Solar Joint Venture With CBD Energy (WEST, ASML)
08/29/2012

** WEST, a designer and manufacturer of integrated rooftop solar power systems, and CBD Energy Ltd., a diversified renewable energy company, reported a joint venture to design, engineer, procure and construct (EPC) commercial projects in Italy.

Online PR News – 29-August-2012 – Las Vegas, NV – WEST, Westinghouse Solar, Inc.

WEST, a designer and manufacturer of integrated rooftop solar power systems, and CBD Energy Ltd., a diversified renewable energy company, reported a joint venture to design, engineer, procure and construct (EPC) commercial projects in Italy. WEST will obtain a 25% stake (with the option to take up to a 50% stake) in the profits from CBD's commercial project pipeline in Italy, in exchange for an investment of $1.5 million (with option to invest up to a further $1.5 million). In May 2012, CBD announced it had obtained a $25 million credit facility to support development and sale of the Italy projects, which covers up to 75% of the development and construction cost of each project. In June 2012, CBD completed the first of several planned 5MW projects in Italy, and has negotiated the sale of that first project to a third party off-taker (closing is subject to verification due diligence by the off-taker) for €12.5 million. CBD expects to deliver five additional 5MW projects (another 25MW total) starting in October of this year, to be sold under a framework agreement being negotiated with the same project off-taker. WEST would receive its share of earnings from the joint venture, which is estimated at $5 million (based on a 50% participation stake in the joint venture) for the total 30MW. Earnings from project sales are projected to begin in the third quarter of 2012. Westinghouse Solar is pursuing an at-market equity capital financing to raise the funds for its investment in the joint venture. WEST is a designer and manufacturer of solar power systems. More about WEST at www.westinghousesolar.com.

ASML, ASML Holding NV

ASML was downgraded by brokerage firm Deutsche Bank from Hold to Sell. ASML is one of the world's leading providers of lithography systems for the semiconductor industry, manufacturing complex machines that are critical to the production of integrated circuits or microchips. ASML designs, develops, integrates, markets and services these advanced systems, which continue to help its customers - the major chipmakers - reduce the size and increase the functionality of microchips, and consumer electronic equipment. More about ASML at www.asml.com

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