BRIGHTON, Mich., Jan. 7, 2015 /PRNewswire/ -- CGE Energy ("CGE")
today announced that the energy services company received a signed
letter of intent from PK Housing and Management ("PK") contracting
CGE to provide integrated energy projects at PK's 65 multi-family
properties.
Under this LOI, mutually beneficial Power Purchase Agreements
(PPAs) are being developed to bring renewable energy technologies
and energy efficiency equipment to PK's properties. PK's only
obligation is purchasing the power from CGE at the same rate they
currently pay their local utility. The companies are entering into
a joint venture on these projects with PK receiving a percentage of
ownership.
"Just as we are dedicated to taking the stress out of moving for
our new residents, what CGE Energy is offering us is a stress-free
way to install and maintain green energy measures," said
Chris Potterpin, Vice President of
Development for PK. "With this joint venture, we are getting a
return on CGE's investment in our future sustainability."
"We are electrified to have the opportunity to improve the
living environments of these multi-family properties. The scale of
the project is substantial and we can't wait to get started," said
CGE President Bryan Zaplitny. "This
joint venture partnership is a unique way for PK Housing to
immediately reduce their carbon footprint while receiving a
long-term return on their decision to purchase green power. The
return is two-fold."
Mr. Zaplitny went on to say the initial project scope will
include upgrading the 65 facility's common areas and exterior
lights to Cree LED as well as installing SolarWorld solar PV on the
roof space and carports.
Contact: Paul Schneider
248-446-1344, pschneider@cgeenergy.com.
About CGE Energy
CGE Energy is an energy solutions
provider headquartered in Brighton,
Michigan. For more than 20 years, the company has provided
energy optimization services and is now offering Power Purchase
Agreements. Today the company serves customers in the U.S. and
abroad, using energy efficient technologies that include Cree LED
lighting and wind and solar generation. CGE is merging with
publicly traded McKenzie Bay International (MKBY:OTCPink) on
January 31st, 2015.
http://www.cgeenergy.com
About PK Housing and Management
PK Housing is
headquartered in Okemos, Michigan.
They are a family-owned, full-service real estate development
company with a presence in Michigan, California, Indiana and Texas. http://www.pkhousing.com
Certain statements made in this release constitute
forward-looking statements and do not guarantee future performance.
Actual results or developments may differ materially from the
projections in the forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cge-energy-and-pk-housing-sign-joint-venture-loi-to-install-energy-projects-at-65-properties-300017197.html
SOURCE CGE Energy