Tarsier Ltd. announced that it has formed a joint venture with Novosol Power, for the development, ownership and operation of energy generation projects in the Philippines. Novosol's seasoned management and development team has spent the last five years developing projects in the Philippines, Europe, and Africa. Tarsier Innovation will oversee project development and arrange financing.

Tarsier will also employ its patented T-Flow Energy Management Software Platform, which allows operators the ability to manage, regulate, and control energy flow in real-time. The first phase of the Joint Venture is the installation of 100 MW's of gas fired power plants, which the electric output has been contracted for via a PPA by a Philippine Utility for 10 years, resulting in $65 million reoccurring yearly revenues. In addition to Novosol's 50% interest in the JV, Novosol will receive 1 million shares of Tarsier stock upon commercial operation of Phase 1 projects.