Evolution Solar completes the process of forming Bermuda subsidiary – March 25, 2010
Management of Evolution Solar Corp. announced that the legal and administrative process of forming its new Bermuda subsidiary was completed.
EVSO announced on February 8th that the Company had decided to form the new subsidiary, a step necessary for meeting contractual eligibility under Bermuda law. The move is a deliberate step forward to aggressively pursue business opportunities that will be created as a result of the Bermuda Government Solar Photovoltaic RebateInitiative for residential users.
The Bermuda Government overtly desires to move financially and environmentally from current fossil-fuel supplies to non-fossil fuel-based energy. Evolution Solar desires to play an integral role in assisting the island nation to reduce its dependency on these expensive oil imports.
“It is one more step in a positive direction as we pursue our goal of becoming a true player in the Bermuda solar marketplace – whether it is commercial or residential applications, we want to offer solutions that make sense,” said Robert Hines, President of Evolution Solar.