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Solar Alliance Completes Acquisition Of Second New York Solar Project As Growth Strategy Accelerates In 2022

Solar Alliance Completes Acquisition Of Second New York Solar Project As Growth Strategy Accelerates In 2022

02/02/22, 12:01 PM
Industry
energy
sustainability
Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) is pleased to announce it has completed the acquisition of a 389-kilowatt (“kW”) project in New York State from Abundant Solar Power Inc. The project acquisition, first announced on June 23, 2021, represents the second project Solar Alliance will own and operate under a 25-year power purchase agreement. A total of 687-kW of solar projects are now owned by the Company and will contribute recurring revenue once they achieve commercial operations in Q2, 2022.

Company Info

Company
Solar Alliance Energy(
Company info
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.