Solar Alliance signs contract with Knoxville Utilities Board for 1 megawatt solar project in Knoxville, Tennessee
Project Expands Solar Alliance Utilities Customer Base in the Southeastern United States
TORONTO and KNOXVILLE, Tennessee, Feb. 2022 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (“Solar Alliance” or the “Company”) (TSX-V: SOLR, OTCQB: SAENF) is pleased to announce that it has signed a contract with Knoxville Utilities Board (“KUB”), an independent agency of the Town 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 optic services to more than 473,000 customers in Knoxville.
Solar Alliance will design, build and install the 1 MW project, which is expected to begin construction in April 2022 and is expected to be completed in August 2022. The project builds on Solar Alliance’s expanding utility customer project base , following successful solar initiatives with LG&E/KU, EPB and AEC utilities. It also builds on the company’s support program for utilities, which includes grant work, financial modeling, energy modeling and the deployment of electric vehicle chargers.
“This great community solar project for KUB builds on our growing utility customer base and we are proud to help KUB bring the benefits of solar power to Knoxville,” said Myke Clark, CEO of Solar Alliance. “Solar Alliance is a Knoxville-based leader in the commercial and utility solar sector and this project exemplifies our commitment to our local community while building strong relationships with utilities. It also shows our growth as a business as we continue to aggressively grow our major project backlog. The potential for solar growth in Knoxville, Tennessee and the Southeastern United States is enormous, 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 approximately 83,000 homes – a commitment that stands out nationwide.
“We are thrilled to bring Knoxville its first community solar site and look forward to partnering with Solar Alliance and the City of Knoxville to make it happen,” said KUB President and CEO Gabriel Bolas. “This is another way we support solar power generation, and it also makes the benefits of solar power more accessible to members of our community.”
Solar Alliance and KUB have also entered into an operation and maintenance agreement (“O&M Agreement”) for the project. The initial term of the O&M agreement is one year. By mutual agreement of the parties, the term may be extended for up to four (4) additional one-year renewal periods.
About KUB (www.kub.org)
The 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 electricity, natural gas, water, utility wastewater and fiber optics to over 473,000 customers in Knoxville and parts. of seven surrounding counties. KUB believes that utility should be so reliable that customers can take it for granted, and we work hard to maintain such reliability. However, our mission is not limited to pipes and cables. It’s about being good stewards of our communities’ environment and resources, and protecting those resources for future generations. We are also committed to being good stewards of our taxpayers’ money and meeting the needs of our customers. We are grateful to be the hometown utility of Knoxville and look forward to continuing to help our community grow in the years to come.
Myke Clark, CEO
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 its inception in 2003, the company has developed $1 billion in renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is to improve lives through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customer vulnerability to rising energy costs, offers an environmentally friendly source of power generation, and provides affordable turnkey clean energy solutions.
The statements contained in this press 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 expressions are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: uncertainties relating to the ability to raise sufficient capital, changes in economic or financial market conditions, litigation, legislative or other competitive, judicial, regulatory and political developments and technological or operational difficulties. Therefore, actual results may differ materially from those described in the forward-looking statements.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”