GlobeinvestorGOLD.com Company News Alert for Berkley Resources
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Berkley Resources Launches Renewable Energy Initiative
VANCOUVER,BRITISH COLUMBIA--(Marketwire - March 15, 2011) - Berkley ResourcesInc. (CNSX:BKS)(PINK SHEETS:BRKDF)(FRANKFURT:W8O) (Berkley) announcedtoday that it has established a strategic partnership with Day4 EnergyInc. (Day4), a Vancouver-based manufacturer of high-performance solarpanels. Under the agreement, Day4 is providing Berkley with solar panelsand related equipment plus consulting services for the construction andmaintenance of solar power projects in Italy and Greece. Berkley willprovide financing, receive ongoing revenue from the projects and alsoact as a sales agent for Day4's solar panels.
"TheDay4 agreement launches Berkley's 2011 Renewable Energy Initiative,"said Berkley president and CEO Matt Wayrynen. "We are preparing thecompany to meet rapidly-changing energy demands, as a growing amount ofthe world's energy is developed from renewable sources, especiallysolar."
Traditionally an oil and gasdeveloper and producer, Berkley is diversifying into renewable energywith an initial focus on developing solar power projects in Italy andGreece. Working in partnership with Day4 and local contractors, Berkleyexpects to develop a minimum of 30 megawatts of solar farms by the endof 2012. Berkley is also marketing Day4 panels in Greece through a salesrepresentation agreement.
Italy and Greecewere targeted because of favourable and guaranteed Feed-in Tariff("FiT") rates established by their respective governments to incentivizeelectrical generation from renewable sources. Under these initiatives,power generated by solar energy in both countries can be sold to powergrids at attractive rates guaranteed for up to 20 years. Italy, with oneof Europe's sunniest climates, has embraced solar power development andnow represents Europe's third-largest solar market behind Germany andSpain. Greece, with equally abundant sunshine, has also establishedhighly attractive FiT rates. The Greek government recently adopted arenewable energy law that accelerates the process of obtainingconstruction and environmental permits for solar power projects.
Permittedsolar park sites have been identified in both countries, anddiscussions are underway with various stakeholders and agencies tofinalize agreements. Berkley expects to begin construction of itsinitial solar project in May 2011.
For moreinformation please see Berkley's Solar Park Development Business Summaryon the company's Home page at
www.berkleyresources.com. Additionalinformation will be posted to the website in the coming weeks.
ABOUT BERKLEY RESOURCES INC.
Berkleyis a growth-oriented and diversified energy and venture companypursuing opportunities in both Canada and the United States. Thecompany's shares trade on the Canadian National Stock Exchange (CNSX)under the symbol BKS and in the U.S. under the symbol BRKDF.
For more information visit:
www.berkleyresources.com
ON BEHALF OF THE BOARD
Matt Wayrynen, President and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT: Matt Wayrynen
Berkley Resources Inc.
Investor Contact
604 248 8731
info@berkleyresources.com
www.berkleyresources.com