CBD Energy Limited (NASDAQ: CBDE), a diversified clean energy company and leading global provider of solar systems, has, through its Australian Energy Efficiency subsidiary, Parmac, been awarded installation and maintenance contracts in Melbourne, Australia. The total estimated value of the contracts is approximately US$1.7 million. The projects are expected to be commissioned in September and to be completed in December, 2014.
“These contracts provide a compelling example of how CBD Energy and its subsidiaries can offer building owners and managers energy efficient solutions.”
As part of the agreements, Parmac will also earn ongoing operations and maintenance fees.
CBD Energy Executive Chairman Gerry McGowan said the contracts and the ongoing service and maintenance fees demonstrate the recurring revenue streams associated with larger-scale installations. “As CBDE builds scale in North America, Europe and Asia, we believe our earnings and associated cash-flows will increasingly reflect the company’s recurring revenue base.“
He added that the company’s strategy of international diversification should also enhance and stabilize earnings. “As recently seen here in Australia, national energy policies are the subject of intense debate, and can and do change over time. However, our presence in several countries should insulate CBD Energy from country specific policy risks.”
Parmac GM Linton Coombs said, “These contracts provide a compelling example of how CBD Energy and its subsidiaries can offer building owners and managers energy efficient solutions.”
For more information, please visit: CBD Energy