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2019-04-22 07:49 ET - News Release Mr. John Gamble reports ENERDYNAMIC HYBRID TECHNOLOGIES UPDATES ITS TWO GHANAIAN PROJECTS Enerdynamic Hybrid Technologies Corp. has provided an update on its two distinct Ghana-based projects in its pipeline. The company is pleased to announce that the first project to supply up to 100,000 rooftop solar systems under the United Nations OPS program (UNO), in conjunction with the government of Ghana and its Ministry of Works and Housing, has now been funded. Announced in late January, 2019, this project will see the company directly provide its Enertec ultralight solar panels and supporting systems to be installed on up to 100,000 traditional homes being constructed by third parties. The second project, which involves the construction of up to 100,000 Enertec homes with the company's joint venture partner, Unified Construction and Investments (UCI), has commenced site surveying following the transfer to the joint venture of ownership title to the full 2,000 acres of planned sites (announced April 9, 2019) in order to underpin the financing for phase 1 and future phases. This step provides security for the joint venture during the build period as the project moves forward. The additional lands now being provided will help the group to add a stronger partner, which is necessary to secure the financing from Elevate Finance and EDC. UCI is finalizing arrangements with the subcontractors that EHT believes will satisfy the EDC credit requirements. The UNO program for EHT, being the supply of Enetec solar systems, will start in the third quarter of this year and is expected to continue for the next five years. EHT will supply three-kilowatt to five-kilowatt solar systems to the project depending on the specific housing requirements. The three-kilowatt system will cost approximately $6,000 (U.S.) with the five-kilowatt system costing approximately $10,000 (U.S.). Each system will include Enertec ultralight solar panels, an inverter and multiple batteries. The UCI project, being the construction of Enertec housing units, is planned to include 60,000 two-bedroom units and 40,000 three-bedroom units. A two-bedroom unit will sell for $33,600 (U.S.) and a three-bedroom unit for $42,000 (U.S.). The EHT/UCI joint venture currently estimates a net margin of 7.5 per cent to 12 per cent (approximately $2,520 (U.S.) to $4,032 (U.S.) per each two-bedroom unit) and will provide future updates as the project progresses. The UNO-UCI orders are both part of the government of Ghana's building of social green housing initiative that is forefront in the government's solar program, and both orders are priority governmental infrastructure projects. John Gamble, chief executive officer of the company, commented, "We have been working with the Ghanaian Ministry of Works and Housing and our partners on these two projects for some time now so are pleased to report these projects are moving forward and will soon start to help the people of Ghana."