Solar Alliance signs contract for $3.7 million solar project in Kentucky

TORONTO and KNOXVILLE, Tenn., Oct. 28, 2024 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, is pleased to announce it has signed a contract for the design, engineering and installation of a $3.7 million solar project for a customer in Kentucky. The project consists of two sites, both scheduled to begin construction in November 2024: a 553-kilowatt (“kW”) project targeted for completion by the end of 2024 and a 943-kilowatt (“kW”) project targeted for completion by the end of March 2025.

“This project is a pertinent illustration of the growth we are encountering as a company, and the trust and reputation we are building with regional customers,” said U.S. General Manager Jon Hamilton. “Our in-depth, local expertise combined with practical, efficient execution results in an attractive solar solution for our customer. We are enabling our clients to reduce their energy costs; to secure their long-term energy requirements and to meet their sustainability and energy efficiency objectives – and this is resulting in increased sales for the Company.”

Solar Alliance assesses the daily demands and energy use profiles of manufacturers, warehousers, retailers and data centers and provides cost-effective solar solutions that include design, engineering, installation and project management services. The Company offers a turnkey approach and simplifies the transition to solar energy.

“Our strategy of targeting larger revenue projects is generating positive results for Solar Alliance, while lowering operating costs and delivering substantial environmental benefits to our customers,” said CEO Brian Timmons. “We have passed an inflection point and are now delivering larger commercial solar projects on a consistent basis. This project is an outstanding example of the type of project we are now targeting in the U.S. Southeast and reflects the consistent progress we continue to make.”

Brian Timmons, CEO

About Solar Alliance Energy Inc. (www.solaralliance.com)

Solar Alliance is an energy solutions provider focused on the commercial, utility and community solar sectors. Our experienced team of solar professionals reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions. Solar Alliance’s strategy is to build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers. The technical and operational synergies from this combined business model supports sustained growth across the solar project value chain from design, engineering, installation, ownership and operations/maintenance.

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 in this press release include, but is not limited to the targeted completion dates of both sites of the Kentucky solar project and the types of solar projects that the Company is now targeting. 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, legislative and political competitive developments, technological or operational difficulties, the ability to maintain revenue growth, the ability to execute on the Company’s strategies, the ability to complete the Company’s current and backlog of solar projects, the ability to grow the Company’s market share, the high growth US solar industry, the ability to convert the backlog of projects into revenue, the expected timing of the construction and completion of the Company’s solar projects, the targeting of larger customers, potential corporate growth opportunities and the ability to execute on the key objectives in 2024. Consequently, actual results may vary materially from those described in the forward-looking statements.

“Neither 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.”