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GWS Technologies, Inc. Sees Benefits in Arizona Ruling on Renewable Energy

Source: http://smallcapvoice.com/blog/gws-technologies-inc-sees-benefits-in-arizona-ruling-on-renewable-energy/
Posted on Thursday, September 10th, 2009 | In Small & Micro Cap
Contributed by: Stuart Smith (http://www.smallcapvoice.com) -

Sep. 10, 2009 (Business Wire) — GWS Technologies, Inc. (OTCBB:GWSC), an alternative energy company developing and marketing solar and wind-powered renewable energy products and solutions, today commented on the September 2, 2009 ruling by the Maricopa County Superior Court affirming that the Arizona Corporation Commission has the authority to set renewable energy standards and allow utilities to collect tariffs to meet them.

The Court ruled that the Commission has the authority to set the standards as part of its ratemaking and policy authority granted by the state’s constitution. The Commission instituted the standards in 2006 requiring all utilities that it oversees to provide 15 percent of their power from renewable sources by 2025. In order to do that, many of the utilities raised funds through special tariffs associated with renewable energy.

“This ruling is widely seen as a big win for Arizona’s solar industry and will provide incentives to promote more renewable energy developments in the state,” said GWS President Richard Reincke. Mr. Reincke cited media reports that a “modern-day land rush is under way in the deserts of Arizona and the Southwest” as public utilities and speculators vie for vast tracts of public and private land on which to build solar-power plants. He also cited a report by the National Renewable Energy Laboratory that Arizona has some of the richest solar land in the country, with much of the prime land for solar use situated along the Interstate 10 corridor between Buckeye and the California state line. GWS Technologies is currently developing plans for solar farms in Arizona and a combined solar and wind farm in Lubbock, Texas.

About GWS Technologies, Inc.

GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new micro-generation movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona. Website: www.greenwindsolar.com.

Safe Harbor Statement:

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company’s ability to attract and retain key personnel.

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About Stuart Smith (http://www.smallcapvoice.com)
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No Responses to “GWS Technologies, Inc. Sees Benefits in Arizona Ruling on Renewable Energy”

  1. Quantum Receives Nasdaq Notices Related to Late Filing of Form 10-Q and Noncompliance With Minimum Bid Price Rule | Gadget Look Says:
    September 22nd, 2009 at 5:55 pm

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    September 22nd, 2009 at 6:26 pm

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