LOCAL SOLAR COMPANY AWARDED GOVERNMENT CONTRACT VALUED UP TO $500 MILLION

News Release HONOLULU,(HI) August 19, 2011 -- Island Pacific Energy was one of three companies selected for the largest ever solar energy government contract in the State of Hawaii valued at up to $500 million.

The photovoltaic facilities will be installed at military installations across Hawaii for the Naval Facilities Engineering Command. “This contract will be the largest installation of photovoltaic solar energy facilities in Hawaii’s history,” said Island Pacific Energy president Joseph Saturnia. “As the only locally owned company in the award, our participation will enable us to keep jobs local and keep the dollars moving through our island economy. It will also help our State achieve its renewable energy goal of 70% of Hawaii’s energy needs met with clean energy by 2030.”

The work to be performed includes the installation of Solar Power Generation Systems on roofs, parking shade structures, and vacant parcels of land. The NAVFAC installations will purchase solar energy, alternating with current power only, and will not construct, own, or maintain any generation assets.

The installations include, but are not limited to, the following Oahu facilities: Joint Base Pearl Harbor-Hickam; Marine Corps Base Hawaii; Schofield Barracks; Wheeler Army Airfield; Tripler Army Medical Center; Fort DeRussy; the Asia Pacific Center for Strategic Studies; Naval Computer and Telecommunications Area Master Station; Naval Magazine West Loch; the Pacific Missile Range Facility on Kauai; and the Army Reserve Center on Maui.

The contract is projected to take five years and will be complete in August 2016. Island Pacific Energy is the only local owned company to receive this multiple award contract. The other two companies include Pacific Energy Solutions (a division of ECC of Burlingame, California and Photon Finance of Mountain View, California. The maximum value for all three contracts combined is $500 Million.

About Island Pacific Energy Island Pacific Energy is Hawai‘i’s Renewable Electric Company. The solar energy systems owned and operated by Island Pacific Energy provide over 1,000,000kWh of clean renewable energy for the people of Hawai‘i each year. In recognition of our achievements to make renewable energy more accessible to the people of Hawai‘i, Island Pacific Energy received the Governor’s Award for Innovation.

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