MSGI Security Solutions Inc. says its subsidiary MSGI Energy will build and operate Solar One, the first of more than 10 solar farms that MSGI Energy plans to establish in partnership with Franklin Energy this year, in Preston, Conn.
The cost to build out the facilities will be materially offset by stimulus money provided by the American Recovery and Reinvestment Act of 2009.
The first 10 MW of Solar One is projected to generate approximately $4.8 million in revenue through power purchase agreements and by sending power directly into the grid, MSGI Security Solutions says. The parcel of land for Solar One is owned by Franklin Energy.
SOURCE: MSGI Security Solutions Inc.