Solar Alliance Energy Inc V.SOLR

Alternate Symbol(s): SAENF

Utilities Utilities - Independent Power Producers

Solar Alliance Energy Inc. is a Canada-based energy solutions provider for commercial and industrial solar installations. Its segments include Solar EPC and Solar Generation. It provides commercial solar design, engineering and installation. Its Sunbox solar system includes solar panels, battery storage, an inverter, optimizers and racking for a complete solar solution. Along with residential solar panels, the Company also offers other home products that can be integrated with solar energy systems. It also offers generators and vehicle charger installations for electric cars. Its solar design and installation services are specifically tailored to create a turnkey experience for commercial businesses. It provides solar panel installation options for commercial solar projects, such as roof space, carports, parking lots and ground mounted arrays. It serves industries, such as agriculture, manufacturing, retail outlets, professional buildings, data centers and utilities.

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Solar Alliance Energy Inc

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Post by Acura001on May 02, 2023 7:07am

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Key Business Highlights for 2022

Key business highlights for 2022

Contract with U.S. Army Corps of Engineers. On September 20, 2022, the Company announced it signed a contract with the U.S. Army Corps of Engineers Nashville District to install a solar system at the Lake Cumberland Resource Manager’s Office and Maintenance Facility located in Somerset, Kentucky. The Project consists of a 52-kilowatt (“kW”) roof mount solar array and a 51-kW carport solar array.
500-kilowatt solar project for LG&E and KU in Kentucky completed. On July 27, 2022, the Company announced it has completed construction of a 500-kW solar project for Louisville Gas and Electric and Kentucky Utilities Company. The contract for this project includes an option for LG&E and KU to select Solar Alliance to build an additional 500-kW system at the same location.
Construction substantially completed at 1-MW Knoxville Utilities Board project. The Company signed a contract on February 22, 2022, with Knoxville Utilities Board (“KUB”), an independent agency of the City of Knoxville, for the design and installation of a 1-megawatt solar project in Knoxville, Tennessee. KUB provides electric, natural gas, water, wastewater, and fiber broadband services to more than 473,000 customers in Knoxville. The project builds on Solar Alliance’s expanding utility customer project base, following successful solar initiatives with other regional utilities. It also builds on the company’s support program for utilities which includes grant work, financial modeling, energy modeling, and EV charger deployment. Construction was substantially completed in 2022.
Construction commences at 526-kW Tennessee project. Construction continued at a 526-kW roof mount solar system at AESSEAL’s U.S. headquarters in Rockford, Tennessee. Solar Alliance was contracted to design, engineer and install the project.
Project ownership target achieved. On January 3, 2023, the Company announced it had completed the construction of the Company’s first two solar projects in New York and both are now in operation. A 298-kW project and a 389-kW project were both energized at the end of 2022 and are now generating clean, renewable electricity under long-term power purchase agreements with the local communities.
U.S. President Biden signed the Inflation Reduction Act (“IRA”). On August 16, 2022, President Biden signed the largest climate bill in U.S. history. For Solar Alliance and the Company’s customers, the new legislation provides significant savings on solar systems through increased tax credits that can reach as high as 60% of a project’s capital costs. As a company that is 100% focused on the U.S. solar industry, Solar Alliance is well positioned to continue its growth in the commercial and utility solar sector, supported by the IRA.