Solar Alliance signs contract for 526-kilowatt solar project in Tennessee

Sales pipeline of large projects continues to see positive growth

TORONTO and KNOXVILLE, Tenn., Oct. 14, 2021 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR) is pleased to announce it has signed a contract for a 526 kilowatt (“kW”) solar system in Tennessee. Solar Alliance will design, engineer and install the project, which is scheduled to begin construction this month and is targeted for completion by the end of 2021.

“This is one of our largest projects to date and it is indicative of the size of projects we are now focused on as we grow our company and bring the benefits of solar energy to businesses in the U.S. Southeast,” said Solar Alliance CEO Myke Clark. “We have been building a substantial sales pipeline of projects like this as we target larger commercial and utility scale projects. The results of this strategy, and investment in these large project opportunities, are now being realized as we continue to execute on this pipeline.”

In addition to this large project and other large projects in our sales pipeline, the Company continues to generate consistent revenue from the sale and installation of smaller commercial and residential projects. These two revenue streams are contributing to strong growth in the Company’s third-party sales while the Company also develops a growing pipeline of solar projects that it will own and operate, generating long term recurring revenue.

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 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.

“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.”