TORONTO and KNOXVILLE, Tenn., Sept. 20, 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 the U.S. Army Corps of Engineers Nashville District to install a solar system (the “Project”) at the Lake Cumberland Resource Manager’s Office and Maintenance Facility located in Somerset, Kentucky. The project consists of a 52-kilowatt (“kW”) roof mount solar array and a 51-kW carport solar array with a total capital cost of US $340,000.
“Solar Alliance is proud to be working with the U.S. Army Corps of Engineers on this solar project in Kentucky,” said CEO Myke Clark. “The combined roof mount and carport arrays will provide lower cost electricity and resiliency to the Lake Cumberland facility. This is the first solar project Solar Alliance will build for the U.S. Army Corps of Engineers and we believe it will provide a strong example of the benefits of solar energy for a variety of government entities. The demand for solar continues to accelerate at an incredible pace and our team is committed to providing quality solar options to businesses, utilities, and government entities such as the U.S. Army Corps of Engineers. Solar Alliance remains on track for a record year in commercial solar and we are now building out our backlog of projects into 2023,” concluded Clark.
Solar Alliance will design, engineer, and install a turnkey project that includes a carport utility grid-tied solar system for the Nashville District at the Lake Cumberland Resource Management Office and a separate utility grid-tied roof mounted solar system for the Maintenance Facility. The Project will also include trenching and conduit installation for a future electric vehicle charging station integrated into the carport solar system, making the structure “EV Charger Ready.”
This Project, which will be installed in early 2023, builds on Solar Alliance’s growing backlog of contracted projects in the U.S. Southeast. The Company’s contracted backlog as of the end of Q2 was $4,300,000, which is expected to convert into revenue before the end of 2022. This includes current construction on the 1-megawatt (“MW”) project for the Knoxville Utilities Board, the 500-kW project for Louisville Gas and Electric and Kentucky and several additional commercial projects in the 60-100 kW range. In addition, Solar Alliance will complete the installation of two commercial 500 kW projects before the end of 2022.
About U.S. Army Corps of Engineers Nashville District (www.lrn.usace.army.mil)
The U.S. Army Corps of Engineers Nashville District serves the region, the Corps of Engineers, and nation by providing collaborative water resource engineering solutions, world class public infrastructure management, and environmental stewardship for the Cumberland-Tennessee River Systems. The Nashville District touches seven states covering 59,000 square miles. Its personnel operate and maintain 1,175 commercially navigable river miles, almost 10 percent of the total within the Corps of Engineers and maintain 14 navigation lock projects. This includes nine on the Tennessee River, four on the Cumberland River, and one on the Clinch River. The Nashville District also operates nine hydropower plants and provides Natural Resources Management. There are 279 boat ramps, more than 17,000 marina slips on 201,385 water acres, 283 recreation areas, 119 hiking trails, and 159,495 acres of public land along 3,800 miles of shoreline the Corps manages or leases on Nashville District's 10 lakes in the Cumberland River Basin. Wolf Creek Dam forms Lake Cumberland. The reservoir is located on the Cumberland River in Wayne, Russell, Pulaski, Clinton, McCreary, Laurel, and Whitley counties in Southeastern Kentucky. The Corps of Engineers staff, headquartered in Somerset, Kentucky, assists millions of visitors and manages 63,000 surface acres of water and 1,255 miles of wooded shoreline including five campgrounds with 224 campsites, 10 commercial concession marinas, several day use areas and shelters, hiking trails, and debris-removal operations with the tow vessel The PRIDE of the Cumberland. The Corps also operates Wolf Creek Dam and Powerplant in Jamestown, Kentucky.
Myke Clark, CEO
| For more information: |
| 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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