Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Solar Alliance (SOLR) has completed the construction of its first two solar projects in New York, and both are now in operation
  • VC1, a 298-kilowatt project, is located in the Village of Cazenovia, while US1, a 389-kW project, is located in the Village of Union Springs
  • Solar Alliance is an energy solutions provider focusing on the commercial, utility and community solar sectors
  • Solar Alliance Energy Inc. (SOLR) remains steady, trading at C$0.07 per share at 12:54 pm ET

Solar Alliance (SOLR) has completed the construction of its first two solar projects in New York, and both are now in operation.

VC1, a 298-kilowatt project, is located in the Village of Cazenovia, while US1, a 389-kW project, is located in the Village of Union Springs. Both projects have received permission to operate and are now generating clean, renewable electricity under long-term power purchase agreements with the local communities.

Myke Clark, CEO of Solar Alliance, commented on the news.

“Solar Alliance is now the proud owner of two operating solar projects in New York. We wrapped up 2022 by achieving commercial operation on US1 and VC1. These two projects represent proof-of-concept for our asset ownership strategy. It represents a solid foundation to aggressively grow our portfolio of assets under ownership in 2023 and beyond.”

Solar Alliance is generating stable revenue through the sale and installation of solar projects for commercial and utility customers. The company recorded its largest quarterly revenue in Q3, 2022 and has built a substantial backlog of contracted projects.

The company has also completed the tax equity investment in the two projects. It will issue 300,000 warrants to the tax equity providers at $0.08 per share for five years.

Solar Alliance is an energy solutions provider focusing on the commercial, utility and community solar sectors. 

Solar Alliance Energy Inc. (SOLR) remains steady, trading at C$0.07 per share at 12:54 pm ET.


More From The Market Herald

" @ the Bell: Markets tumble amid rate worries

Canada’s main stock index was weighed down on Monday by commodity-linked and financial stocks. The telecom and utilities sectors posted some gains.
Dolly Varden Silver Corporation - President & CEO, Shawn Khunkhun.

" Dolly Varden Silver (TSXV:DV) reports highest-grade silver assay found so far on the Kitsault Valley Property

Dolly Varden Silver Corporation (DV) discovered the highest-grade silver assay found so far on the Kitsault Valley Property.

" Black Tusk Resources (CSE:TUSK) acquiring PegaLith Project

Black Tusk Resources (TUSK) has signed a $361,000 share purchase agreement to acquire 1396427 BC Ltd.

" Deep South Resources (TSXV:DSM) closes oversubscribed non-brokered private placement

Deep-South Resources (DSM) has closed the final tranche of an oversubscribed, non-brokered private placement for gross proceeds of $490,000.