Hyundai Heavy Industries and Matinee Energy sign a master agreement to build alternative energy plants

Matinee Energy, Inc. is proud to announce that it has signed a master agreement with Hyundai Heavy Industries Co., Ltd. to build 175MW of green energy plants in the first phase of their green energy initiative relationship. With this signing and the engagement of JPMorgan Securities to provide permanent financing in the capital market the company looks forward to the exciting times in front of it. Matinee’s first phase of solar projects is based in the SouthWest and Western United States. Hyundai’s initial role will be that of the EPC as well as technology provider.

Michael Pannos, chairman of Matinee Energy, said “Hyundai has been and continues to be a leader in research and development on how alternative energy plants can be built. That combined with their construction experience, procurement abilities, and core capabilities of integration all leads to the successful combination of the components to get the job done. These projects will create local jobs and power for thousands and thousands of homes and offices with clean energy.” Chin Kim, vice chairman of Matinee, said “Hyundai, being the largest shipbuilder in the world and a major electrical equipment supplier in the U.S. will help Matinee be well positioned to breach technology and resource gaps.”

Matinee has also signed a MOU with Korea Electric Power Data Network Co., Ltd., (KDN), an affiliate of KEPCO, and a pre-Master Agreement with K&Company, a public company in Korea, that leads a group of partners comprising of CHINT (China), AUO Solar Company (Taiwan) where both are major supplier of energy devices, and LS Industrial Systems Co. Ltd. of Korea, a major player of energy market.

Chin Kim said “These additional partners both large and small all bring special talents that make the team even stronger. That includes KDN’s intimate knowledge of the electric power market to other members that bring special talents as suppliers in the energy market.”

http://www.altenergymag.com  （2010.8.17）