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7 MW Power Purchase Agreement Nearly Finalized In St. Croix

WALNUT, Calif., April 24, 2013 /PRNewswire/ -- VIASPACE Inc. (OTCQB: VSPC) today provided an update on the Tibbar Energy 7 MW anaerobic digestion power plant project on St. Croix, US Virgin Islands.  As reported by the St. Croix Source on April 19, 2013, Mr. Hugo Hodge, executive director of the Virgin Islands Water and Power Authority (WAPA), stated that the authority was nearing a purchase agreement with Tibbar Energy, a proposed biomass electricity company on St. Croix. Hodge said that, in a few years, St. Croix will have 10 MW of electricity coming from industrial solar, 5 MW from net metering and 7 MW from Tibbar, for a total of 22 MW being produced by alternative sources. He estimated that at peak consumption, the St. Croix grid only needed 45 MW. That means the WAPA power plant would only need to supply an additional 23 MW.

Tibbar is continuing to plant its Giant King™ Grass nurseries, and plans to create a 1000+ acre plantation to fuel the 7 MW anaerobic digestion power plant. It is testing irrigation options and large scale planting procedures.  "We have started to develop an impressive farming operation in preparation of our finalized power purchase agreement (PPA)" said Tibbar CEO Tania Tomyn.  "We have purchased tractors and additional equipment. We are proud of our new farm staff and they are integral to the progress so far."

Tomyn continued, "As WAPA stated in the St. Croix Source article, there is a lot of work that goes into balancing Tibbar's base load power with WAPA's.  Tibbar will be unlike intermittent wind and solar as we will produce continuous dispatchable power 24/7.  Our computer system will be tied to WAPA's and will use the latest technology to efficiently work together."

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