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Solar Alliance Commences First Project in Newly Signed US$39,000,000 Solar Project Portfolio
Company Also Provides Additional Details on Projects in the Pipeline VANCOUVER, BC &a...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"Solar Alliance Commences First Project in Newly Signed US$39,000,000 Solar Project PortfolioCompany Also Provides Additional Details on Projects in the Pipeline VANCOUVER, BC & KNOXVILLE, TN / ACCESSWIRE / June 10, 2019 / Solar Alliance Energy Inc. ('Solar Alliance' or the 'Company') (TSX-V: SOLR, OTC: SAENF) is pleased to announce that work will commence this week in Florida on the first project in the 25 megawatt (\"MW\") project pipeline signed with Sundamental LLC and announced on June 5, 2019. The Company is also pleased to provide additional information on the projects in the pipeline, which have a combined capital cost of US$39,000,000 with an expected 10-15% gross profit margin.\"The commencement of the first portfolio project in Florida and the prospect of building an additional 25 megawatts of projects for Sundamental has the potential to be truly transformative for Solar Alliance,\" said CEO Myke Clark. \"This represents a 735% increase over projects constructed last year. More importantly, many of these projects are either already financed or have financing solutions arranged. Solar Alliance is quickly transitioning into a much larger regional solar company with a goal of expanding even further,\" concluded Clark. First Project Commences. The Company is undertaking construction management services for the 715 kilowatt (\"kW\") BE Trilogy Solar Project LLC (\"Trilogy\") ground mount solar installation in Groveland, Florida. Ground preparation and partial racking installation has already taken place at the project site and construction is expected to be completed before the end of summer. The energy produced from the solar project is estimated to provide 100% of the power required for the Cascades of Groveland Homeowners Association. This is the first non-utility 3rd party owned solar array that is powering a non-profit in the state of Florida.25 MW Pipeline Details. The Solar Development Agreement (\"Development Agreement\") with Sundamental, LLC, a company affiliated with Trilogy, provides Solar Alliance with an exclusive option for Solar Alliance to provide construction management or full engineer, procurement and construction (\"EPC\") services for a pipeline of up to 18 solar projects in New Jersey, Illinois, Texas and California. With a total installed capacity of 25 MW, the project pipeline is the equivalent...