Christiansted, St. Croix (January 23, 2015): Caribbean Energy Opportunities, LLC (CEO) and Foresight Renewable Solutions, LLC (FRS) performing as the joint venture FRS-CEO, LLC signed a Power Purchase Agreement with the Virgin Islands Water and Power Authority (WAPA), for six megawatts of power. FRS-CEO responded to the RFP issued by WAPA on December 23, 2013, they submitted a bid on February 28, 2014. After extensive negotiations, the PPA document was signed and exchanged between Mr. Hugo Hodge, Director of WAPA, Steven Larchuk, Chief Executive Officer and Co-Founder of CEO and Warren Byrne, Chairman of FRS on January 22, 2015.

The energy will be produced using two geographically separate 3 megawatt solar power plants on St. Croix. One plant will be located on the west end of the Island near Frederiksted and the second near the southeast of Christiansted. FRS-CEO will be able to efficiently mitigate power fluctuations created by cloud cover over St. Croix and more evenly distribute power into the electrical grid.

Caribbean Energy Opportunities, LLC designed and installed the first interconnected commercial scale solar system for the US Virgin Islands at the Cyril E. King Airport, bringing it online in September of 2011. This project paved the way for future solar installations across the territory. Since then CEO has successfully completed several commercial scale projects throughout the territory. Foresight Renewable Solutions principals have developed or managed over 49 megawatts of power purchase agreements with major utilities and have 140 megawatts of photovoltaic sites under development. This will be the first project for the FRS-CEO team who plan to pursue projects across the islands of the Caribbean. FRS-CEO takes great pride in building cost effective renewable energy solutions that will benefit the people of the US Virgin Islands and the greater Caribbean community for years to come.

January 23, 2015 WAPA signs off on 2 new St. Croix solar facilities from the Virgin Islands Daily News

January 22, 2015 WAPA Signs Solar Purchase Agreement from the St. Croix Source

January 22, 2015 WAPA Board Approves Solar Agreements for 6 Megawatts on St. Croix from the Virgin Islands Water and
Power Authority

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