Yahoo Finance Solar Alliance begins construction on 500-kW utility solar project for LG&E and KU in Kentucky
Project is the latest in Solar Alliance’s utility customer portfolio and includes an option for additional 500-kW system
TORONTO and KNOXVILLE, Tenn., March 14, 2022 (GLOBE NEWSWIRE) -- Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) is pleased to announce it has commenced construction on a 500-kilowatt (“kW”) solar project in Kentucky for Louisville Gas and Electric Company (“LG&E”) and Kentucky Utilities Company (“KU”), regulated utilities that serve more than 1.3 million customers.
The project represents section five of LG&E and KU’s Solar Share Program, a cost-effective option available to the utilities’ residential, business and industrial customers who want to support solar energy for as little as 20 cents per day.
The contract includes an option for LG&E and KU to select Solar Alliance to build an additional 500-kW system at the same location. A total of eight 500-kW Solar Share sections are planned for the Simpsonville facility, for a total of four megawatts. Under the terms of the contract, the identity of the customer was confidential until the commencement of construction.
“Our portfolio of tools and programs, like Solar Share, make it possible for customers to support renewable energy sources right here in Kentucky and the region,” said LG&E and KU Vice President-Customer Services Eileen Saunders. “We’re providing information in near-real time, simplifying the processes and partnering with customers who are interested in finding cost-effective solutions to achieve their sustainability goals.”
“Solar Alliance is proud to be building another large solar project in Kentucky for this utility partner,” said Solar Alliance CEO Myke Clark. “Our contracted pipeline of large solar projects is growing, and this is the latest example of the type of project we are consistently delivering for our customers.”
Solar Alliance continues to see unprecedented growth in the number of larger solar projects the Company is designing, engineering and installing for commercial and utility customers. That growing backlog of contracted projects includes:
On February 22, Solar Alliance signed a contract with Knoxville Utilities Board (“KUB”), an independent agency of the City of Knoxville, Tennessee, 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.
On January 27, the Company signed a contract with AESSEAL, a specialist in the design and manufacture of mechanical seals and support systems, for a 526-kW roof mount solar system at AESSEAL’s U.S. headquarters in Rockford, Tennessee. Solar Alliance will design, engineer and install the project, which is scheduled to begin construction in April and is targeted for completion by the end of October 2022.
A 500-kW ground mounted solar project signed in October 2021 in middle Tennessee is nearing completion and is expected to be in commercial operation this month.
About LG&E and KU
Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve more than 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 333,000 natural gas and 429,000 electric customers in Louisville and 16 surrounding counties. KU serves 566,000 customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.
Myke Clark, CEO
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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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