- Renewable energy stock Three Sixty Solar (NEO:VSOL) has signed a non-binding letter of intent (LOI) for the sale of a solar tower in Sturgeon County, Alberta
- The parties will begin a feasibility study toward a binding purchase order by Aug. 31
- Three Sixty Solar’s tower concept uses up to 90 per cent less land space than conventional solar farms
- Three Sixty Solar stock (NEO:VSOL) is up by 3.9 per cent trading at $0.80 per share
Renewable energy stock Three Sixty Solar (NEO:VSOL) has signed a non-binding LOI for the sale of a solar tower in Sturgeon County, Alberta.
The client, Cattail Crossing Golf and Winter Club, sought a more efficient power source for the operation of its golf course and clubhouse.
The parties will begin a feasibility study toward a binding purchase order by Aug. 31.
Cattail Crossing intends to install Three Sixty partner Hook’d Broadband’s technology on the solar tower to provide broadband connectivity throughout the property.
“I’m thrilled to have signed the letter of intent to secure a tower project at Cattail Crossing. I believe that our solar tower technology is an ideal solution for a golf and winter club to provide power for operations without sacrificing the land they need for the course and clubhouse,” Brian Roth, Three Sixty Solar’s CEO, said in a statement.
“We were looking for ways to add renewable energy to power our operations but couldn’t find anything suitable on the land and building that we have. The solar towers offered by Three Sixty are such a unique approach that we can easily make it fit and generate power for our irrigation systems, cart charging, and more,” Mark Beck, Cattail Crossing’s owner, added in a statement.
Three Sixty Solar is a Canadian enterprise focused on solar equipment supply to the global market. The company’s tower concept is a high-density, clean energy solution that uses up to 90 per cent less land space than conventional solar farms.
The renewable energy stock (NEO:VSOL) is up by 3.9 per cent trading at $0.80 per share as of 10:19 am ET.
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