Solar Alliance signs contract for $1.47 million solar project in Tennessee
31 Mai 2023 - 1:00PM
Solar Alliance Energy Inc. (‘Solar Alliance’ or the
‘Company’) (TSX-V: SOLR), a leading solar energy solutions
provider focused on the commercial and utility solar sectors, is
pleased to announce it has signed a contract for the design,
engineering, and construction of a 565-kilowatt (“kW”) commercial
solar project for a manufacturing client in Tennessee.
The project, with a $1.47 million capital cost,
is scheduled to begin construction in Q3 2023 and is currently
targeted for completion by the end of 2023.
“This project – and others like it that we have
signed this year – is a great example of the type of large revenue
project Solar Alliance is now targeting and delivering,” said CEO
Myke Clark. “We worked closely with this client to design a solar
system that meets their specific needs. Our commitment to providing
outstanding customer service and technical expertise is driving
increasing sales for our company and quality solar projects for our
customers.”
The project contributes to a backlog of
contracted projects that now totals $4.6 million. All of the
projects in the backlog are scheduled to be completed this year,
including the following previously announced contracts:
- An 872-kW solar project in
Tennessee announced on February 13, 2023. The project, with a $1.8
million capital cost, is scheduled to begin construction in Q2 2023
with completion targeted by October 2023.
- Five small and medium-sized solar
projects in Tennessee and Kentucky, ranging in size from 40-kW to
113-kW. The projects, announced on May 25, 2023, have a combined
capital cost of $1.1 million and are all expected to be completed
in 2023.
“We continue to execute and deliver on a diverse
and growing portfolio of solar projects for customers in the
Southeast U.S. Our goal is to provide low-cost, renewable solar
power to businesses so they can reduce their operating costs and
realize substantial environmental benefits. The economic basis for
businesses to make the switch to solar is more compelling than ever
and supports our favourable outlook for the balance of the year.
Notably, we believe our current contracted backlog of projects
positions Solar Alliance for yet another year of strong revenue
growth in 2023,” concluded Clark.
Myke Clark, CEO
For more information: |
Investor RelationsMyke Clark,
CEO416-848-7744mclark@solaralliance.com |
About Solar Alliance Energy Inc.
(www.solaralliance.com)Solar
Alliance is an energy solutions provider focused on the commercial,
utility and community solar sectors. Our experienced team of solar
professionals reduces or eliminates customers' vulnerability to
rising energy costs, offers an environmentally friendly source of
electricity generation, and provides affordable, turnkey clean
energy solutions. Solar Alliance’s strategy is to build, own and
operate our own solar assets while also generating stable revenue
through the sale and installation of solar projects to commercial
and utility customers. The Company currently owns two operating
solar projects in New York and actively pursuing opportunities to
grow its ownership pipeline. The technical and operational
synergies from this combined business model supports sustained
growth across the solar project value chain from design,
engineering, installation, ownership and
operations/maintenance.
Statements in this news release, other than
purely historical information, including statements relating to the
Company's future plans and objectives or expected results,
constitute Forward-looking statements. The words “would”, “will”,
“expected” and “estimated” or other similar words and phrases are
intended to identify forward-looking information. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the Company’s actual results,
level of activity, performance or achievements to be materially
different than those expressed or implied by such forward-looking
information. Such factors include but are not limited to:
uncertainties related to the ability to raise sufficient capital,
changes in economic conditions or financial markets, litigation,
legislative or other judicial, regulatory, legislative and
political competitive developments, technological or operational
difficulties, the ability to maintain revenue growth, the ability
to execute on the Company’s strategies, the ability to complete the
Company’s current and backlog of solar projects and the ability to
grow the Company’s market share. Consequently, actual results may
vary materially from those described in the forward-looking
statements.
“Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release."
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