Vasari Energy Doubles Solar Project Development in Arizona to 140 MW

IRVINE, Calif., Nov. 15, 2016 - Vasari Energy has announces the expansion of its utility-scale solar project in Maricopa County and Gild Bend, Arizona, doubling the company's solar generating projects within the state, and increasing capacity from 68 MW to 140 MW. The California based energy provider plans to construct and operate a solar facility on the 900 acre development site which will connect the Arizona transmission grid.

"The Maricopa County development provides a considerable boost to our portfolio of clean energy assets, strengthening our position in the solar energy sector, the fastest growing of all renewable energy sectors," said Sam Lipman, CEO of Vasari Energy on the company's project expansion.

Once commissioned, the project will generate enough electricity to meet the demand of around 7,700 households and offset around 252,000 tons of carbon dioxide emissions every year. In addition to generating clean, sustainable energy, the project expansion will spur local employment opportunities and increase local and state tax revenue.

The project will be developed through Sonoran Solar Development Partners, LLC, a wholly owned development partnership of Vasari Energy Inc. Construction is expected to begin in October of 2019, and expected to be operating and delivering power by October of 2020.

The new development has positioned the company to exceed their target of generating 700 MW of power from renewables by 2020.

Vasari is developing a pipeline of solar energy projects have an estimated power potential of 500-700 megawatts in California, Arizona, Nevada, and Texas, and a build out value of approximately $650-900 million. Through its various investments, the Company aims to reach operating capacity of 1 GW by the end of 2020.

About Vasari Energy

Vasari Energy, Inc. is a California-based solar energy provider committed to designing, developing and operating a global network of renewable energy solutions. The Company plays an active role in all phases of renewable energy generation, providing clean and reliable energy solutions that cultivate economic growth and sustainable communities.

Media Contact:

Rachel Shelley

Tel: 858-705-1797

SOURCE Vasari Energy

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