- Solar Alliance (SOLR) has made significant headway with its numerous ongoing solar projects
- Its current project backlog sits at US$66 million
- The company is building a project development team to pursue large-scale solar projects
- Work has been completed at facilities in Kentucky (1 MW) and South Carolina (2.4 MW)
- Work is underway at a 56 MW, US$60 million solar project for Green Data Center Real Estate in Illinois
- Solar Alliance Energy is an energy solutions provider focused on residential, commercial and industrial solar installations
- Solar Alliance (SOLR) is down 2.56 per cent and is currently trading at C$0.38 per share
Solar Alliance (SOLR) has made significant headway with its numerous ongoing solar projects.
The company is entering the second quarter with a record project pipeline and a strong balance sheet to support future growth.
Its current project backlog has combined capital costs totalling approximately US$66 million.
The company’s focus remains on high margin sectors of the solar industry, including residential developers and builders, commercial clients, microgrid solutions for larger clients and large-scale project development opportunities.
Recent corporate updates include:
- Closing a C$5,752,530 marketed private placement that will enhance the company’s balance sheet and fund new opportunities
- Building a project development team that will pursue large-scale opportunities similar to Solar’s 56 MW data center project in Illinois
- The company will be featured on the Peterson Capital platform, which will connect it with a wider investor audience
- CEO Myke Clark will be presenting at Sidoti Microcap Conference on Thursday, May 20, 2021
Recent project updates include:
- Installing a 1 MW solar project in Kentucky in partnership with Boyd CAT, a regional Caterpillar dealer
- Work is underway at a 56 MW, US$60 million solar project for Green Data Center Real Estate in Illinois. The data center will support a solar project up to 150 MW
- The company has almost completed design work for Green Data for a 4.5 MW solar project in Murphysboro, Illinois. Next steps include finalizing a definitive installation agreement and determining an installation timeline
- Work has been completed at a 2.4 MW commercial solar project for Bridgestone Americas in South Carolina. The project will generate almost 4 gigawatt hours of electricity and offset 2,829 tonnes of carbon dioxide emissions per year
Myke Clark, Solar Alliance’s CEO, commented,
“This year has already seen several positive developments that have fundamentally transformed this company. We have advanced several large-scale solar projects, continued to build our pipeline of projects and completed a financing that provides the capital to fully realize our growth potential.
Our pipeline and backlog of projects continues to grow and we are preparing to roll out additional strategic initiatives that will enhance shareholder value. Our company has a solid revenue generating foundation that supports a defined growth plan. Combine that with the changing political environment in the United States and we are clearly at an inflection point in our history and the growth potential is extraordinary.”
Solar Alliance Energy is an energy solutions provider focused on residential, commercial and industrial solar installations. The company operates in Tennessee, Kentucky, Illinois and North/South Carolina and has an expanding pipeline of solar projects.
Solar Alliance (SOLR) is down 2.56 per cent and is currently trading at C$0.38 per share as of 9:40 am ET.
