- Solar Alliance Energy (TSXV:SOLR) has signed agreements to build three new commercial solar projects at farms in Kentucky and Tennessee
- Two of the projects will be built through the company’s partnership with Boyd CAT, while the third is for a separate farming customer
- All three projects have submitted for US Department of Agriculture grants, which could cover up to 25 per cent of the costs
- The projects total 108 kilowatts of solar energy, and will be installed over the next two months
- Solar Alliance Energy (SOLR) is currently steady at three cents per share
Solar Alliance Energy (TSXV:SOLR) has signed agreements to build three new commercial solar projects at farms in Kentucky and Tennessee.
Headquartered in White Rock, Canada, the company is focused on residential, commercial and industrial solar installations, with an established presence in a number of US regions.
Since it was established in 2003, Solar Alliance has undertaken approximately C$1 billion of wind and solar projects.
All three of these new projects have submitted grant applications to the US Department of Agriculture (USDA), which offer significant support for renewable energy developments for agricultural producers.
Should they be approved, the grants may cover up to 25 per cent of the total project costs, as well providing loans for up to 75 per cent of the development.
Under the terms of the agreements, the two Kentucky-based projects will be built through Solar Alliance’s partnership with Boyd CAT, a dealership for Caterpillar. The third project will be undertaken for a separate Tennessee-based farming customer.
Myke Clark, CEO of Solar Alliance Energy, noted that the agricultural sector is a growing part of the company’s business model.
“Our team continues to sell and install solar systems during these challenging times and we are committed to providing renewable energy solutions to our customers.
“The combination of low cost, renewable solar power and a USDA grant provides an excellent solution for agricultural businesses to lower their operating costs and reinvest the savings into their business,” he added.
Today’s announcement also noted Solar Alliance’s ongoing efforts with Boyd CAT in signing further solar agreements within Kentucky and Southern Indiana.
According to information from the Kentucky Poultry Federation, there are over 850 commercial-scale poultry farms in the state. The two companies are now working to target these businesses for solar system installations.
Solar Alliance Energy (SOLR) is currently steady at three cents per share at 11:44am EDT.