Jan 7 2010
Solar Energy Initiatives, Inc. (OTCBB:SNRY), executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced the 800 kilowatt project with the Canon City School District in Canon City, Colorado has been completed and is scheduled for commissioning this month.
Solar Energy Initiatives newly implemented solar energy solution will provide energy cost savings to the school district from nearly 3,300 solar panels installed on ten buildings, while reducing hazardous carbon dioxide emissions by 1,250 tons, annually. SNRY partnered with a general contractor, funding source and a solar installation company to install the solar system at no “out of pocket” expense to the school district. SNRY completed the Power Purchase Agreement, supplied the solar equipment and balance of system for the school district project. Solar Energy Initiatives will also generate revenue through the sale of the newly generated solar energy to the school district over a 20-year contract period.
“The completion of this municipal installation is additional evidence that SNRY’s cost effective energy solutions can create new jobs, decrease energy costs and reduce strain on the grid through viable clean energy,” stated David Fann, Chief Executive Officer. “Management intends to identify other school and municipal project development opportunities to leverage this completed project with other municipalities across the United States. The Company is committed to finalizing new contracts from our $100 million pipeline, increasing top-line revenue and overall earnings. We are confident that Solar Energy Initiatives is well positioned for significant growth in 2010 and beyond.”
Source: http://www.solarenergy.com/