Investors Lining Up to Participate in BlueChip Energy Capital Increase

Strong Interest Shown in Fully-Integrated Solar Company

 

Lake Mary, FL, December 14, 2011 – BlueChip Energy, LLC (BCE), a solar equipment manufacturer, systems integrator and independent power producer, today announced it has begun the process of raising equity capital for the company’s ongoing expansion.

Investors have shown strong interest in taking an equity stake in the Company, as the balance of power in the solar market shifts from equipment manufacturers to providers of viable investment opportunities in turnkey solar power plants.

Financial investors, including a well-known venture capital company and a high net worth individual, as well as strategic investors already active in solar equipment manufacturing, most notably from Asia, have begun the due diligence process further to participating in a capital increase in BCE.

“One year in the solar industry is like five years in any other market,” said Thomas Gregory, Chief Strategy Officer of BlueChip Energy. “One moment there’s an equipment shortage, next moment there’s an oversupply of equipment, and a shortage of viable projects to invest in. Being strong throughout the solar value chain allows us to take advantage of market opportunities as they arise.”

Although there’s currently an oversupply of solar panels in the market, BlueChip Energy is being viewed as an ideal manufacturing partner for China-based panel producers threatened by the dumping complaint filed with the U.S. International Trade Commission by the Coalition for American Solar Manufacturing (CASM). On December 2, 2011, the ITC ruled unanimously to investigate whether Chinese solar imports have harmed US solar manufacturers and whether there should be a penalty for Chinese companies that illegally dump products.

In order to avoid possible countervailing duties on their products, several Chinese panel manufacturers have begun looking to establish solar panel production in the US. This puts BCE at the top of the list of potential investment targets since its wholly owned subsidiary, Advanced Solar Photonics, is now the second largest PV panel manufacturer in the U.S. with a current capacity of 100 MW, scalable up to 250 MW.

ASP’s PV panel manufacturing operation, with a seasoned management team, trained employees, established supply chain and 318,000 square foot facility, provides instant entry to the burgeoning U.S. market.

Equally important, BlueChip Energy’s portfolio of 128 MW of merchant solar power plants currently under construction provides guaranteed off-take for ASP’s panel production over the next few years.

BCE’s landmark 100 MW Sorrento Solar Farm is unique among many announced utility scale PV projects in that it is fully permitted, ideally located and Federally-licensed. Ground-breaking on the Sorrento plant took place November 14, 2011, and construction has been on-going since then.

BCE has established an online data room providing access for qualified investors to comprehensive information about the company, including corporate records, feasibility studies, financial statements, cash flow models, market information, etc. The data room is continually updated, allowing investors and their advisers to download all documents necessary to making an investment decision. Secure log-in information is available upon request by contacting Michael Bence, Finance Manager at michael.bence@bluechipenergy.org.

BlueChip Energy, LLC (BCE) is a fully-integrated solar PV power generator, occupying all segments of the solar power value chain, from manufacturing of solar panels and balance of systems components, to the sale of turnkey solar power plants – and electricity – to utility, commercial and residential customers. BCE develops finances, constructs, operates, and monitors solar plants for companies and individuals, as well as for its own portfolio.

BlueChip Energy’s two flagship utility scale solar projects, the Rinehart Solar Farm(10 MW) and the Sorrento Solar Farm (40 MW), received approval from the Federal Energy Regulatory Commission (FERC) as self-certified small power production facilities, or Qualified Facilities (QFs) in 2011, requiring the local utility to provide interconnection to them and purchase the electricity they produce. Additionally, these two solar farms have received approval to operate as Exempt Wholesale Generators (EWGs), providing the facilities with undisputed access to the power distribution network. FERC has also granted the company Market-Based Rate Authorization, allowing BCE to purchase and sell wholesale electricity and offer renewable energy products to customers.

Advanced Solar Photonics, LLC (ASP) is a manufacturing and research and development center for crystalline silicon solar photovoltaic (PV) panels for utility, commercial and residential applications. Based on the latest cell efficiency, light transmission, and encapsulation technologies, ASP focuses on high-efficiency, state-of-the-art solar PV modules ranging from 200 Watts to 400 Watts.

ASP is the second largest producer of crystalline silicon PV panels in the United States and is one of the few producers in the US of Buy American Act compliant products suitable for government, military and municipal projects and meeting the requirements of Section 1605 of the American Recovery and Reinvestment Act of 2009.