Press Release , August 3rd, 2017

Gizos Energy LLC and the City of Waterville announce an agreement for the potential development of two utility-scale solar facilities on City-owned land. Falmouth, Maine-based Gizos Energy is targeting the Webb Road landfill as the site for a 20 Megawatt solar facility, and another site also on the Webb Road for a smaller, 5 Megawatt solar facility.

This announcement reflects over a year of planning, as Central Maine Growth Council, the City, and Gizos Energy have been carefully appraising the development of a model solar facility, which will benefit the local economy, create jobs, and cultivate a globally competitive business environment in Waterville, ME.

The City Council approved a resolution at its meeting last week to allow the projects to advance. Once complete, the two facilities could generate enough clean, renewable solar power for the electricity need of 3,750 New England homes, and construction of the facilities will create a total of more than 175 jobs.

Gizos Energy is a renewable energy company that focuses on developing utility-scale solar farms in the US. Gizos Energy is the exclusive US development partner for Germany-based solar investment and engineering firm, hep energy GmbH.

hep energy has successfully developed, funded, designed and installed large solar farms in Germany, Great Britain and Japan, and has projects under development in Japan and Canada. Currently hep energy has a total of 30 projects in production or development with a combined capacity of more than 380 Megawatts. hep energy offers all products and services needed for successful project implementation, from "green field" construction to the long-term operation of a solar power plant. Hep energy assures customers and business partners that every phase of a PV project will have sufficient funding for the successful implementation of the project. The Waterville, Maine sites represent hep energy’s first projects underway in the US.

Gizos Energy is pleased to work with the City and Central Maine Growth Council on these new investments, which will put underutilized City lands to use, add to the tax base, provide new revenues, and grow foreign direct investment.

The proposed installations will feed into the New England power grid and help to reduce the region’s greenhouse gas emissions due to electricity generation. If the same energy was produced using coal, the carbon dioxide emissions would be 12,500 tonnes or 27.6 million pounds per year; for natural gas; the emissions would be 7,117 tonnes or 15.7 million pounds per year.  With normal timeframes for the development and permitting process, construction could start in early 2020.