Company’s contracted backlog exceeds $5 million during record year for commercial and utility solar projects
TORONTO and KNOXVILLE, Tenn., July 27, 2022 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) is pleased to announce the Company has completed construction of a 500-kilowatt (“kW”) solar project in Kentucky for Louisville Gas and Electric Company (“LG&E”) and Kentucky Utilities Company (“KU”).
“Solar Alliance is proud to be part of the accelerating decarbonization of the power grid throughout the Southeast and beyond, and we’ll continue to do our part to support clean energy economic development in communities,” said CEO Myke Clark. “Our contracted pipeline of large solar projects continues to grow, and this is the latest example of the type of project we are consistently delivering for our customers.”
The project, the fifth section of LG&E and KU’s Solar Share facility, is now operational and part of a subscription-based program available to residential, business and industrial customers who want to support local solar energy.
“Our portfolio of sustainable tools and programs, like Solar Share, makes it possible for customers to support local and regional renewable energy on their own terms by personalizing their participation levels to match their interests,” said LG&E and KU President John Crockett. “Together with our customers, we’re empowering a cleaner, sustainable energy future for Kentucky.”
This project represents a total of 1.5 megawatts of photovoltaic infrastructure engineered and installed by Solar Alliance for the utilities. 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.
LG&E and KU’s Solar Share program is leading the way for individuals and businesses to become part of the clean energy transition without the need for up-front costs – for as little as 20 cents per day. Those who enroll in Solar Share can earn credits on monthly utility bills based on their subscription level or use the gifting option to transfer the monthly credits to another customer or community organization in the utilities’ service areas.
This project is the latest to be completed in Kentucky, which remains a geographic focus for Solar Alliance. The growing portfolio of projects in Kentucky is supported by the growing and strong partnership built with Boyd CAT, the authorized dealer of Cat® solar equipment for businesses and contractors across Kentucky, Southern Indiana, West Virginia and Southeastern Ohio.
Myke Clark, CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, North/South Carolina and Illinois and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed $1 billion of renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
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 and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
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