Solar Energy Initiatives announces $1.7m solar project

1 December 2009

US solar developer Solar Energy Initiatives has agreed to assume a $1.7m turnkey solar project and contract to supply the Gainesville Regional Utilities with solar electricity. Installation of this project is expected to begin immediately with completion scheduled for January 2010, the company said.

As the project developer for the project, Solar Energy Initiatives will supply the solar equipment and balance of system. In addition to the sale of solar equipment and balance of supplies, the company said that it will also generate revenue via the sale of the newly generated solar energy to the municipality under its feed-in tariff programme, over a 20-year contract period. Solar Energy Initiatives said that it will partner with a major funding source and a solar installation company, to install the solar system at no out of pocket expense to the municipality.

‘This most recent contract award is proof that our model, of providing cost effective energy solutions that allow for long term savings, is a highly desired service offering to the municipal market,’ said David Fann, CEO, Solar Energy Initiatives.

‘Our ability to provide a complete solution including financing gives us the competitive edge needed to complete these projects. Our entire management team is focused on converting additional projects from our $100m pipeline to maximise both revenue and bottom-line earnings. Management is focused on leveraging our finished projects to increase awareness for municipal energy projects located around North America,’ he added.

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Tags: solar

This story was published on Tuesday, December 1st, 2009 at 2:44 pm and is filed under North America, companies, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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