TORONTO, June 27, 2011 (GLOBE NEWSWIRE) -- Aspire International Inc. (Pink Sheets:APIT) today announced that it has acquired a majority stake in Future Solar Developments Inc. ("Future Solar"), a private Canadian corporation operating in the renewable energy sector.
Future Solar is engaged in building solar energy power plants that qualify for participation in Ontario's Feed-in Tariff (FIT) Program, which offers a guaranteed pricing structure for renewable electricity production. FIT, which is being implemented by the Ontario Power Authority, is designed to encourage and accelerate the development of renewable energy in Ontario.
One of the goals of the FIT Program is to help Ontario phase out coal-fired electricity generation by 2014—the largest climate-change initiative in Canada.
Future Solar has obtained a contract to build a 1.8MW solar power plant and is in the process of applying for an 18MW solar power plant deal with the Ontario government. The company also plans to subsequently build a 303MW power plant.
About Aspire International
Aspire International Inc., www.aspireinternationalinc.com, is a U.S. corporation whose executive offices are in Toronto, Ont., Canada. Aspire is an emerging holding company focused in resource, ecommerce and high-tech projects.
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