Evolution Solar creates Bermuda subsidiary

(ADPnews) - Mar 24, 2010 - US alternative energy consultant Evolution Solar Corp (PINK:EVSO) announced yesterday that it had established a new subsidiary in Bermuda, in a bid to meet contractual eligibility under the island's law.

The move, announced earlier in February, will allow the company to benefit from the Bermuda Government Solar Photovoltaic Rebate Initiative to be introduced shortly.

According to Evolution Solar, the island's government aims to move financially and environmentally from current fossil-fuel supplies to environment-friendly energy.

Last year, the company bagged first order to ship 8.5 MW of solar monocrystalline modules to an unnamed customer in the islands. The order was secured as part of a partnership with Bermuda-based consulting firm Beacon Ltd, which was hired by Evolution to help it set foot on the market.

At present, Evolution Solar is building a solar demonstration site in partnership with Texas Southern University. The PV system will be unwrapped at the university's Houston campus.

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