TORONTO and KNOXVILLE, Tenn., Feb. 22, 2022 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) is pleased to announce it has signed a contract with Knoxville Utilities Board (“KUB”), an independent agency of the City of Knoxville, for the design and installation of a 1 megawatt (“MW”) solar project in Knoxville, Tennessee. KUB provides electric, natural gas, water, wastewater, and fiber broadband services to more than 473,000 customers in Knoxville.
Solar Alliance will design, engineer, and install the 1-MW project, which is scheduled to begin construction in April 2022 and is targeted for completion in August 2022. The project builds on Solar Alliance’s expanding utility customer project base, following successful solar initiatives with utilities LG&E/KU, EPB, and AEC. It also builds on the company’s support program for utilities which includes grant work, financial modeling, energy modeling, and EV charger deployment.
“This large community solar project for KUB builds on our growing utility customer base and we are proud to support KUB in delivering the benefits of solar to Knoxville,” said Solar Alliance CEO Myke Clark. “Solar Alliance is a Knoxville-based leader in the commercial and utility solar sector and this project illustrates our commitment to our local community while building strong relationships with utilities. It also shows our growth as a company as we continue to aggressively grow our backlog of large projects. The potential for solar growth in Knoxville, Tennessee and the U.S. Southeast is massive, and we have become a market leader in this rapidly growing industry.”
KUB previously announced that 20% of Knoxville’s electricity will be generated from solar energy, through participation in TVA’s Green Invest program. In total, KUB will secure enough solar energy to power about 83,000 homes – a commitment that stands out on a national scale.
“We are so excited to bring Knoxville its first Community Solar site and are looking forward to partnering with Solar Alliance and the City of Knoxville to make it happen,” KUB President & CEO Gabriel Bolas said. “This is another way we support solar energy generation, and it also makes the benefits of solar power more accessible to our community members.”
Solar Alliance and KUB also entered into an Operations and Maintenance Agreement (“O&M Agreement”) for the project. The initial term of the O&M Agreement is for one year. Upon mutual agreement of the parties, the term may be extended for up to four (4) additional one-year renewal terms.
About KUB (www.kub.org)
Knoxville Utilities Board was created by an amendment to the Knoxville City Charter in 1939. As an independent agency of the City of Knoxville, KUB provides electric, natural gas, water, wastewater, and fiber broadband services to more than 473,000 customers in Knoxville and parts of seven surrounding counties. KUB believes utility service should be so reliable that customers can take it for granted, and we work hard to maintain such reliability. However, our mission is about more than pipes and wires. It's about being good stewards of the environment and our communities’ resources and safeguarding those resources for generations to come. We are also committed to being good stewards of our ratepayers’ dollars and meeting the needs of our customers. We are grateful to be Knoxville’s hometown utility, and we look forward to continuing to help our community grow in the years to come.
Myke Clark, CEO
For more information: |
Solar Alliance Sales (865) 309-4674 info@solaralliance.com Investor Relations Myke Clark, CEO 416-848-7744 mclark@solaralliance.com |
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, North/South Carolina and Illinois and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed $1 billion of renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
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