Blue Earth Inc., a renewable energy and energy efficiency services company, says its wholly owned subsidiary Xnergy Inc. has entered into a binding memorandum of understanding (MOU) with an unspecified renewable energy company to construct approximately 3 MW of solar PV projects in Hawaii.
Under the MOU, Xnergy will provide engineering support and procurement for the majority of the equipment, as well as complete construction services. The revenue for the company is expected to be approximately $4.5 million.
Procurement and construction is expected to commence in April and be concluded during the fourth quarter. The parties are currently concluding final contracts prior to the start of construction.