Business
Solar Alliance Signs Agreement with Empire Cinemas, the Leading Independently-Owned Cinema Chain in the U.K.
Agreement Represents the Largest Project Portfolio in the Near-Term Pipeline with a Potentia...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\nSolar Alliance Signs Agreement with Empire Cinemas, the Leading Independently-Owned Cinema Chain in the U.K.Agreement Represents the Largest Project Portfolio in the Near-Term Pipeline with a Potential Value of US$5.6 million. VANCOUVER, BC & KNOXVILLE, TN / ACCESSWIRE / October 16, 2019 / Solar Alliance Energy Inc. (‘Solar Alliance' or the ‘Company') (TSXV:SOLR)(OTC:SAENF) is pleased to announce it has signed a Memorandum of Understanding (\"MOU\") with Empire Cinemas Ltd. (\"Empire Cinemas\"), a prominent movie theatre chain in the United Kingdom, for the development of up to 14 solar projects with an approximate capacity of 2.8 megawatts (\"MW\"). Empire Cinemas is the leading independently-owned cinema chain in the U.K. with 14 locations and 131 screens including IMPACT® and IMAX® screens. Solar Alliance and Empire Cinemas will focus their initial efforts on Empire Birmingham Great Park. Each theatre in the Empire Cinemas chain has the rooftop capacity to support approximately 200 kilowatts (\"kW\") of solar. Individual project economics will be determined when a construction contract is signed, but similar sized systems typically have an approximate capital cost of US$400,000. Across fourteen potential projects, the Empire Cinemas agreement represents the largest near-term project portfolio in the Company's pipeline.\"Empire Cinemas is a leader in the global movie theatre business and Solar Alliance is proud to be working with them to reduce their carbon footprint and reduce their operating costs,\" said Solar Alliance CEO Myke Clark. \"Combining the large electricity demands of movie theatres with clean, renewable solar power makes sense on several fronts. For Solar Alliance, this is an opportunity to work with a top tier company in a new market where solar is expanding rapidly. It also marks our first large scale solar projects in the United Kingdom, a country we believe has tremendous potential for growth in solar. Our project management approach to projects in new jurisdictions allows us to leverage our extensive solar experience and deliver a quality project to customers in almost any market.\"\"Empire Cinemas is committed to reducing our carbon footprint and reducing our operating costs by installing solar on our theatres,\" said Empire Cinemas CEO Justin Ribbons. \"As the leading indepen...