SOLAR ALLIANCE SIGNS CONTRACT FOR $1.47 MILLION SOLAR PROJECT IN TENNESSEE
Solar Alliance Energy Inc. 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 Myke Clark, chief executive officer. "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 Feb. 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 Mr. Clark.
About Solar Alliance Energy Inc.
Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Its 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 its 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 is 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.